Bank of America Corp. won a victory when a U.S. appeals court ruled that a proposed $8.5 billion settlement with investors in mortgage-backed securities should be reviewed in New York state court, not federal court. Bank of America, the nation’s …
Legal wrangling over the proposed $8.5 billion settlement of some of Bank of America Corp.’s mortgage-backed securities liability could drag through the courts for years, a top appeals court judge said during arguments in the case. The 2nd U.S. Court …
Goldman Sachs Group Inc. was ordered by a federal judge to face a securities class-action lawsuit accusing it of defrauding investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender. U.S. District Judge Harold …
Bank of America Corp. has reached a settlement with former Countrywide Financial Corp. institutional investors who decided not to join a $624 million class-action case that won court approval in February. The terms of the accord were not disclosed in …
Investors objecting to Bank of America Corp.’s $8.5 billion settlement of claims over losses on mortgage-backed securities are seeking to send their dispute to federal court, potentially delaying a resolution of one of the beleaguered bank’s largest legal liabilities. According …
Warren Buffett will invest $5 billion in Bank of America Corp., stepping in to shore up the largest U.S. bank in the same way he helped prop up Goldman Sachs and General Electric during the financial crisis. Bank of America …
Large U.S. banks defending themselves against a mass of state and federal mortgage probes face a difficult tactical decision following New York state’s exit from settlement talks on Tuesday. A settlement with the states remaining at the negotiating table and …
Angelo Mozilo, the former Countrywide Financial Corp. chief executive, urged a federal judge to throw out Allstate Corp.’s lawsuit seeking to hold him responsible for losses on toxic mortgage debt it bought. The largest publicly traded U.S. home and auto …
The Federal Reserve rejected a $15.7 billion bid from insurer American International Group for a pool of mortgage-backed securities Wednesday and said it will sell off the bonds over time instead. The news is a blow to AIG, which has …
Allstate Corp. on Monday sued Credit Suisse Group AG, accusing the Swiss bank of causing losses by hiding the risks on $232 million of mortgage securities it bought. Allstate, the largest publicly traded U.S. home and auto insurer, has filed …
