Del. AG To Intervene In $8.5B BofA Settlement Fight

Law360, New York (August 5, 2011, 7:05 PM EDT) -- Delaware's attorney general will become the second top state prosecutor to intervene in an escalating fight over the fairness of Bank of America Corp.'s $8.5 billion settlement in New York to resolve claims brought by holders of Countrywide Financial Corp.'s soured mortgage-backed securities.

Ian McConnel, a fraud investigator in Delaware Attorney General Beau Biden's office, said Friday at the close of a packed discovery hearing on the proposed settlement in New York state court that Delaware has concerns about its state pension funds' exposure to the...
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