AIG fraud case vs. Bank of America News

A federal appeals court said Bank of America Corp. was not liable to shareholders for allegedly concealing a $10 billion fraud lawsuit by American International Group Inc., whose filing led to a 20-percent one-day plunge in the bank’s stock price. …

American International Group Inc. may pursue a lawsuit accusing Bank of America Corp.’s Countrywide unit of causing billions of dollars of losses by fraudulently inducing it to buy risky residential mortgage-backed securities. U.S. District Judge Mariana Pfaelzer in Los Angeles …