Judge Lets Investors In On Suit Over $8.5B BofA Deal

Law360, New York (August 23, 2011, 2:14 PM EDT) -- A slew of investors won their bid Tuesday to intervene in Bank of America Corp.'s $8.5 billion settlement in New York state court with holders of Countrywide Financial Corp. mortgage-backed securities that have lost their value.

Judge Barbara Kapnick granted the omnibus motion to intervene, which was not opposed by BofA, giving a voice in the settlement proceedings to investors including Walnut Place LLC and 10 affiliates, the Policemen's Annuity & Benefit Fund of Chicago and other pension funds, several Federal Home Loan Banks, and insurance...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.