Suit Against Ex-Countrywide Exec Sent To State Court

Law360, New York (May 1, 2009, 12:00 AM EDT) -- Florida's attorney general has won federal court approval to bring a suit filed against ex-Countrywide Financial Corp. CEO Angelo Mozilo back to state court to prosecute state-law claims that the mortgage giant's former leader misled Florida consumers into accepting risky mortgages at rates they could not afford.

Judge Dana M. Sabraw in the U.S. District Court for the Southern District of California on Tuesday granted Florida Attorney General Bill McCollum's motion to move the state's claims against Mozilo under the Florida's Deceptive and Unfair Trade Practices...
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