Judge Lets Investors In On Suit Over $8.5B BofA Deal

Law360, New York (August 23, 2011, 2:14 PM EDT) -- A slew of investors won their bid Tuesday to intervene in Bank of America Corp.'s $8.5 billion settlement in New York state court with holders of Countrywide Financial Corp. mortgage-backed securities that have lost their value.

Judge Barbara Kapnick granted the omnibus motion to intervene, which was not opposed by BofA, giving a voice in the settlement proceedings to investors including Walnut Place LLC and 10 affiliates, the Policemen's Annuity & Benefit Fund of Chicago and other pension funds, several Federal Home Loan Banks, and insurance...
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