Countrywide Can't Shake State Case In $4B Investor Row

Law360, New York (June 16, 2011, 2:03 PM EDT) -- A California federal judge on Wednesday denied failed mortgage lender Countrywide Financial Corp.'s request that it bar institutional investors suing over a $4 billion debenture offering from bringing previously dismissed state law claims before a state court.

Judge Mariana R. Pfaelzer issued a one-page ruling denying two motions by Countrywide to make her Jan. 20 ruling dismissing the institutional investors' complaint final and to issue a permanent injunction barring them from pursuing four state law claims before the California Superior Court in Los Angeles County. Judge...
To view the full article, register now.