Investors Can Peer Into $8.5B BofA Settlement Negotiations

Law360, New York (May 8, 2012, 7:33 PM EDT) -- A New York state judge said Tuesday that investors who objected to a proposed $8.5 billion settlement with Bank of America Corp. over its Countrywide Financial Corp. mortgage-backed securities can review some communications that went into the settlement agreement.

The $8.5 billion settlement seeks to resolve claims that investors in more than 500 securities trusts have against Bank of America and its Countrywide units. Institutional investors who hold $40 billion worth of the securities — including the Federal Reserve Bank of New York, BlackRock Inc. and...
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