BofA Fraud Suit Against Bear Stearns Survives

Law360, New York (October 1, 2009, 1:28 PM EDT) -- A federal judge has refused to dismiss contract and fraud claims in Bank of America NA's lawsuit against a unit of Bear Stearns Cos. — now owned by JPMorgan Chase & Co. — in which two former hedge fund managers and a third individual are accused of deceiving BofA into entering into a costly, failed transaction.

Judge Paul A. Crotty of the U.S. District Court for the Southern District of New York did however dismiss with prejudice on Wednesday a claim of breach of fiduciary duty...
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