Countrywide Wants Judge To Boot Insurers' MBS Claims

Law360, Los Angeles (June 13, 2012, 9:41 PM EDT) -- Countrywide Financial Corp. asked a California federal judge Wednesday to dismiss allegations in multidistrict litigation that it misled two insurer investors by failing to properly transfer title to properties backing up hundreds of millions in toxic mortgage-backed securities.

Attorneys for Countrywide, former CEO Angelo Mozilo and Countrywide-buyer Bank of America Corp. asked U.S. District Judge Mariana R. Pfaelzer to dismiss twin lawsuits brought by National Integrity Life Insurance Co. and Western & Southern Life Insurance Co., saying allegations remaining after she dismissed Securities Act of 1933...
To view the full article, register now.

Related

Sections

Case Information

Case Title

In Re Countrywide Financial Corp Mortgage-Backed Securities Litigation


Case Number

2:11-ml-02265

Court

California Central

Nature of Suit

Securities/Commodities

Judge

Mariana R. Pfaelzer

Date Filed

August 30, 2011


Case Title

Western and Southern Life Insurance Company et al v. Countrywide Financial Corp. et al


Case Number

2:11-cv-07166

Court

California Central

Nature of Suit

Securities/Commodities

Judge

Mariana R. Pfaelzer

Date Filed

August 30, 2011


Case Title

National Integrity Life Insurance Company v. Countrywide Financial Corp. et al


Case Number

2:11-cv-09889

Court

California Central

Nature of Suit

Securities/Commodities

Judge

Mariana R. Pfaelzer

Date Filed

November 29, 2011

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.