RICO Reinsurance Kickback Suit Is Time-Barred, BofA Says

By Caroline Simson (March 9, 2015, 7:31 PM EDT) -- Bank of America Corp. on Friday asked a Pennsylvania federal judge to dump a proposed class action over alleged kickbacks garnered from overpriced mortgage insurance, saying the Racketeer Influenced and Corrupt Organizations Act suit is nothing more than a rehashed version of another suit that was dismissed as time-barred by the Third Circuit in October.

The bank argued that the plaintiffs' "boilerplate" allegations that it actively concealed the scheme from them, despite their due diligence, didn't hold water. Not only did the plaintiffs not explain how they had diligently attempted to uncover the scheme — which would toll the statute of limitations...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!