BofA Investors Allowed To Reshuffle Mortgage Suit

Law360, New York (April 4, 2012, 7:38 PM EDT) -- A New York federal judge said Wednesday that he would allow a group of Bank of America Corp. shareholders to dismiss and refile in Delaware court a putative class action claiming the bank let widespread problems in its mortgage business fester.

U.S. District Judge William H. Pauley overruled objections by the bank and granted a bid by the plaintiffs to voluntarily drop the consolidated suit. According to the complaint, the bank and a slew of executives engaged in and failed to stop illegal mortgage practices, including...
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