Countrywide Securities Class Action Soldiers On

Law360 (December 2, 2008, 12:00 AM EST) -- Citigroup Inc., Merrill Lynch & Co. Inc., JPMorgan Chase & Co. and a slew of other defendants dragged into a securities suit alleging Countrywide Financial Corp. lied to investors about its lending practices have failed to kill the case, with a judge dismissing only some claims.

In a 112-page order filed Monday in the U.S. District Court for the Central District of California, Judge Mariana Pfaelzer declined to dismiss the entire securities class action. But she purged a number of claims, including all of the charges...
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