Countrywide Can't Shake State Case In $4B Investor Row

Law360, New York (June 16, 2011, 2:03 PM EDT) -- A California federal judge on Wednesday denied failed mortgage lender Countrywide Financial Corp.'s request that it bar institutional investors suing over a $4 billion debenture offering from bringing previously dismissed state law claims before a state court.

Judge Mariana R. Pfaelzer issued a one-page ruling denying two motions by Countrywide to make her Jan. 20 ruling dismissing the institutional investors' complaint final and to issue a permanent injunction barring them from pursuing four state law claims before the California Superior Court in Los Angeles County. Judge...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.