“This settlement holds Nomura accountable for its fraudulent conduct in connection with its Residential Mortgage-Backed Securities offerings, which caused substantial harm to investors and contributed to the financial crisis of 2008,” said Richard Donoghue, the US Attorney for the eastern district of New York.
Nomura disputed the allegations in the settlement, according to the justice department’s announcement.
Nomura said in a statement it was in its “best interests to conclude this matter and avoid protracted and expensive litigation concerning transactions and practices that occurred ten or more years ago.”
Shares in the Japanese bank traded higher following the announcement of the settlement and were up 1.7 per cent on the day.