BofA Spared Costs In $144M Investor Fraud Suit

Law360, New York (January 10, 2011, 3:17 PM EST) -- Banc of America Securities LLC will not have to pay for consultants and court transcripts on top of the $144 million owed to investors including AIG Global Lending Corp. in a case alleging it misrepresented the quality of asset-backed securities.

On Thursday, Judge John Koeltl of the U.S. District Court for the Southern District of New York denied the investor plaintiffs' motion to recover from the investment banking subsidiary of Bank of America NA about $198,000 in litigation consulting expenses and about $7,600 in costs related...
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