18‐939
Triaxx Prime CDO 2006‐1, Ltd., v. JP Morgan Chase & Co.
UNITED STATES COURT OF APPEALS
FOR THE SECOND CIRCUIT
SUMMARY ORDER
RULINGS BY SUMMARY ORDER DO NOT HAVE PRECEDENTIAL EFFECT. CITATION TO A
SUMMARY ORDER FILED ON OR AFTER JANUARY 1, 2007, IS PERMITTED AND IS GOVERNED BY
FEDERAL RULE OF APPELLATE PROCEDURE 32.1 AND THIS COURT=S LOCAL RULE 32.1.1.
WHEN CITING A SUMMARY ORDER IN A DOCUMENT FILED WITH THIS COURT, A PARTY MUST
CITE EITHER THE FEDERAL APPENDIX OR AN ELECTRONIC DATABASE (WITH THE NOTATION
ASUMMARY ORDER@). A PARTY CITING A SUMMARY ORDER MUST SERVE A COPY OF IT ON
ANY PARTY NOT REPRESENTED BY COUNSEL.
At a stated term of the United States Court of Appeals for the Second
Circuit, held at the Thurgood Marshall United States Courthouse, 40 Foley
Square, in the City of New York, on the 16th day of November, two thousand
eighteen.
PRESENT: DENNIS JACOBS,
ROSEMARY S. POOLER,
RICHARD C. WESLEY,
Circuit Judges.
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TRIAXX PRIME CDO 2006‐1, LTD., TRIAXX
PRIME CDO 2006‐2, LTD., TRIAXX PRIME
CDO 2007‐1, LTD.,
Plaintiffs‐Appellants,
‐v.‐ 18‐939
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U.S. BANK NATIONAL ASSOCIATION, THE
BANK OF NEW YORK MELLON,
Defendants‐Appellees,
JP MORGAN CHASE & CO.,
Defendant.
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FOR APPELLANTS: John G. Moon (Kerrin T. Klein, on
the brief), Olshan Frome Wolosky
LLP, New York, NY.
FOR APPELLEES: Michael T. Marcucci (David F. Adler,
on the brief), Jones Day, Boston, MA;
Matthew D. Ingber (Christopher J.
Houpt, Silvia A. Babikian Pacia, on
the brief), Mayer Brown LLP, New
York, NY.
Appeal from a judgment of the United States District Court for the
Southern District of New York (Buchwald, J.).
UPON DUE CONSIDERATION, IT IS HEREBY ORDERED,
ADJUDGED AND DECREED that the judgment of the district court be
AFFIRMED.
This case involves claims by Plaintiffs‐Appellants Triaxx Prime CDO
2006‐1, Ltd., Triaxx Prime CDO 2006‐2, Ltd., and Triaxx Prime CDO 2007‐1, Ltd.
(collectively, “Triaxx”) against the trustees of 45 trusts holding residential
mortgage‐backed securities. Triaxx alleges that the trustees,
Defendants‐Appellees U.S. Bank National Association and The Bank of New York
Mellon, breached their contractual obligations and fiduciary duties, and failed to
avoid conflicts. By order of the United States District Court for the Southern
District of New York (Buchwald, J.), Triaxx’s Third Amended Complaint was
dismissed in its entirety on the grounds that Triaxx lacks standing to assert its
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contract claims, and its tort claims and claim for equitable relief fail to state claims
upon which relief can be granted.
For the reasons stated by Judge Buchwald in her thorough and thoughtful
opinion, the judgment of the district court is AFFIRMED.
FOR THE COURT:
CATHERINE O’HAGAN WOLFE, CLERK
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