Judge Wants BNY Mellon Deposed Over $8.5B BofA Settlement

Law360, New York (August 2, 2012, 7:16 PM EDT) -- A New York state judge on Thursday said investors who are challenging a proposed $8.5 billion settlement over Bank of America Corp.'s Countrywide Financial Corp. mortgage-backed securities should depose the securities' trustee, the Bank of New York Mellon Corp., before demanding more documents about settlement negotiations.

Judge Barbara R. Kapnick told attorneys for the objecting investors during a hearing that their request for even more documents about settlement negotiations, especially the direct communications that the institutional investors who negotiated the settlement had with Bank of America...
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