BofA, US Bancorp Can't Shake Fund's Suit Over WaMu MBS

Law360, New York (December 7, 2012, 6:28 PM EST) -- A New York federal judge on Friday allowed a Chicago pension fund to continue its purported class action alleging Bank of America Corp. and U.S. Bancorp failed to protect investors in their role as trustee for mortgage-backed securities issued by Washington Mutual Inc.

However, the decision by U.S. District Judge Katherine B. Forrest was not a complete win for the Policemen's Annuity and Benefit Fund of the City of Chicago. The judge limited the field of trusts over which the fund could pursue claims to those...
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