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Countrywide Marketing MDL Survives Motion To Kill

Law360 (May 19, 2009, 12:00 AM EDT) -- The judge overseeing multidistrict litigation accusing Countrywide Financial Corp. of steering borrowers to subprime mortgages in order to maximize profits, defrauding borrowers and violating state competition law, has mostly refused to dismiss a consolidated class action complaint against the lender.

On Monday, Judge Dana M. Sabraw of the U.S. District Court for the Southern District of California denied most of Countrywide's partial motion to dismiss the complaint. He also rejected the lender's bid to strike an allegation of “unfair” conduct under the California Business and Professions...
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