Litigation
May 20, 2011
Class Action Against Countrywide is Revived
A state appellate court revived a class action against Countrywide Financial Corp. and other defendants, ruling certain types of securities class actions may be brought in state, not federal, court.
Daily Journal Staff Writer
A state appellate court on Wednesday revived a class action against Countrywide Financial Corp. and other defendants, ruling certain types of securities class actions may be brought in state court instead of federal court.
In a unanimous decision, a three-judge panel of the 2nd District Court of Appeal ruled that a securities fraud case brought by a number of pension funds and other investors did not...
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