MassMutual's Countrywide MBS Claims Swept Into MDL

Law360, New York (December 14, 2011, 7:46 PM EST) -- Most of Massachusetts Mutual Life Insurance Co.'s claims over more than $500 million in mortgage-backed securities it purchased were sent back to Massachusetts federal court Wednesday, but claims aimed at Countrywide Financial Corp. were relegated to ongoing multidistrict litigation.

The U.S. Judicial Panel on Multidistrict Litigation ruled that in the interest of streamlining the case, it made more sense for MassMutual's claims against Countrywide, now a unit of Bank of America Corp., to be a part of the multidistrict litigation in the Central District of California....
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