Securities
May 26, 2011
BofA Wants Securities Cases Consolidated
Bank of America has asked the U.S. judicial conference to consolidate all litigation related to Countrywide Financial's mortgage-backed securities offerings in a multi-district litigation proceeding.
Daily Journal Staff Writer
LOS ANGELES - Bank of America Corp. is moving to centralize a "growing number" of securities lawsuits that have sprouted in federal courts across the country, a sign it continues to face massive liabilities from its acquisition of Countrywide Financial.
In a request filed late Monday, BofA asked the U.S. judicial panel on multidistrict litigation to create an MDL proceeding before U.S. Dist...
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