Judge Links Lawsuits Aimed At $850M In Bad BofA MBS

Law360, New York (May 8, 2012, 5:23 PM EDT) -- A New York federal judge on Monday consolidated a bank and an insurer's lawsuits accusing Bank of America Corp. of making misrepresentations to promote the sale of more than $850 million in mortgage-backed securities, streamlining the case for possible transfer to California.

U.S. District Judge Victor Marrero found that two suits brought by Bank Hapoalim BM and Principal Life Insurance Co. “in all material respects” involved the same facts and claims. In a separate order, the judge told lawyers in both suits to explain by Friday...
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