Calif. Appeals Court OKs Dismissal Of Countrywide Fraud Suit

Law360, Los Angeles (March 01, 2013, 5:19 PM ET) -- A California state appeals court on Thursday upheld the decertification and dismissal of a class action accusing Countrywide Home Loans, Inc. of financial code violations and fraud over its failure to explain appraisal costs related to loan refinancing, saying the named plaintiff had failed to prove his claims.

The appellate panel on Thursday upheld the trial court's decision, saying it hadn’t erred in decertifying the class or dismissing the suit. The lower court previously had certified the class on named plaintiff Terry Gibson’s financial code violation...
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