BofA Escapes RICO Suit Over Faulty RE Loan Reports

Law360, New York (July 6, 2012, 3:11 PM EDT) -- A New York federal judge on Thursday threw out a civil racketeering suit against Bank of America NA and a loan servicer over allegedly libelous credit history reports, ruling that commercial real estate investor Nightingale Group LLC failed to adequately plead a pattern of racketeering activity.

Nightingale had accused investment management firm CW Capital Asset Management LLC, on behalf of BofA, of violating the Racketeer Influence and Corrupt Organizations Act by publishing seven false servicing notes related to retail properties in Tennessee and Pennsylvania, and then...
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