good news for cnp/cer maybe?

WSJ 7/04/10

"Banks Winning When Investors Sue"

Banks are on a winning streak in their battle against investor lawsuits stemming from the financial crisis, a trend that is good news for firms accused of understating the risks of securities that tanked during the financial crisis.

The banks, including major Wall Street players, have won dismissals of lawsuits with variations of a "global financial catastrophe defense," arguing that the blame should be placed on collapsing markets rather than any actions on their part.

The bulk of these lawsuits accused financial firms of misrepresenting the risks of a variety of financial products, including mortgage-backed securities and auction-rate securities.