BofA, Servicing Firm Face RICO Claims Over Loan Reports

Law360, New York (December 21, 2011, 6:00 PM EST) -- Commercial real estate investor Nightingale Group hit Bank of America NA and a loan servicer with racketeering claims Monday, accusing them of publishing libelous reports about the company's credit history and then falsely promising to issue corrections.

Investment management firm CW Capital Asset Management, on behalf of BofA, allegedly published seven “false and libelous” servicing notes related to four retail properties in Tennessee and another in Pennsylvania that were owned by Nightingale affiliates, according to the lawsuit filed in the Southern District of New York....
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