NY, Del. AGs Can Intervene In $8.5B BofA MBS Deal

Law360, New York (June 6, 2012, 10:27 PM EDT) -- A New York state judge on Wednesday allowed the New York and Delaware attorneys general to intervene in the litigation surrounding Bank of America Corp.'s proposed $8.5 billion settlement with investors who held Countrywide Financial Corp. mortgage-backed securities.

New York Supreme Court Judge Barbara R. Kapnick said that both New York Attorney General Eric Schneiderman and Delaware Attorney General Beau Biden provided adequate reasons for intervening, including that they both say they are seeking to protect public investors who may find themselves bound by the settlement,...
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