Judge Blocks More Discovery In $8.5B BofA Deal For Now

Law360, New York (October 12, 2012, 6:21 PM EDT) -- A New York state judge said Friday that she won't yet pry more discovery out of the 22 institutional investors who negotiated a proposed $8.5 billion settlement over Bank of America Corp.'s Countrywide Financial Corp. mortgage-backed securities that's now being challenged by some investors.

Judge Barbara R. Kapnick said during a hearing that nothing in depositions the objecting investor took of two officials involved in settlement negotiations at the Bank of New York Mellon Corp., the trustee of 530 securities trusts with an original principal balance...
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