BofA Beats Claims That It Hid AIG's Impending $10.5B Suit

Law360, New York (November 4, 2013, 5:19 PM EST) -- A New York federal judge on Monday dismissed a shareholder lawsuit alleging Bank of America Corp. should have warned investors prior to American International Group Inc.'s $10.5 billion mortgage-backed securities fraud suit against the bank in August 2011.

U.S. District Judge John G. Koeltl ruled that Bank of America had provided sufficient notice that it faced a raft of private litigation and enforcement actions related to mortgage-backed securities that the bank and two of its subsidiaries — Countrywide Financial Corp. and Merrill Lynch — had issued...
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