9th Circ. Quashes Appraisers' Countrywide RICO Claims

Law360, New York (February 3, 2012, 7:32 PM EST) -- The Ninth Circuit on Friday affirmed a lower court’s decision to toss Capitol West Appraisals LLC’s class action accusing Countrywide Financial Corp. of blacklisting appraisers in violation of the Racketeer Influenced and Corrupt Organizations Act because they refused to inflate property value appraisals.

In an unpublished opinion, a three-judge panel sided with a Washington state federal court’s September 2010 decision to dismiss the suit, after that court found that Capitol West had not adequately proved its claims that Countrywide had engaged in a fraudulent scheme because...
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