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Securities

Jan. 29, 2011

Investors Renew Suits Against Countrywide

Three major institutional investors filed federal lawsuits against Bank of America's Countrywide Financial unit on Thursday, signaling the first in a new wave of fresh shareholder litigation.


By Gabe Friedman


Daily Journal Staff Writer


LOS ANGELES - Three major institutional investors filed federal lawsuits against Bank of America's Countrywide Financial unit on Thursday, signaling the first in a new wave of shareholder litigation expected to hit the giant lender.


The plaintiff investors are three pension funds for state employees in Fresno County, Michigan and Oregon. The funds, along with three dozen other investors, opted ou...

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