BofA Says It Warned German Bank Of Risk In $56M RMBS Buy

Law360, New York (December 4, 2012, 6:41 PM EST) -- Bank of America Corp. urged a federal judge on Friday to toss IKB Deutsche Industriebank AG's lawsuit over $56 million worth of residential mortgage-backed securities that later soured, claiming it had adequately warned the German bank that the investments were high-risk. 

In a motion to dismiss filed in New York federal court, Bank of America paints a picture of IKB as a major financial company and sophisticated investor looking to shift blame following revelations of its own improper handling of a portfolio of more than $17.5...
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