AIG Rallies Against BofA's $8.5B Deal With MBS Investors

Law360, New York (February 5, 2014, 2:44 PM EST) -- An attorney for American International Group Inc. told Law360 on Wednesday that the insurer was not happy with Bank of America Corp.’s $8.5 billion mortgage-backed securities settlement with institutional investors, as the two sides continue to spar over whether the deal should be finalized.

The settlement in question would resolve claims brought by holders of subprime mortgage-backed Countrywide Financial Corp. securities that went bust during the financial crisis. AIG, which previously called the deal a “Frankenstein monstrosity,” argued that New York Supreme Court Judge Barbara R....
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