A New York state judge made it easier for the bond insurer MBIA Inc. to pursue its $1.4 billion lawsuit accusing Bank of America Corp.’s Countrywide Financial unit of fraudulently inducing it to insure risky mortgage-backed securities. New York State …
Enforcement by the state attorney general against securities fraud doesn’t pre-empt private common-law claims of negligence against investment companies, New York’s top court ruled Tuesday. The Court of Appeals rejected J.P. Morgan Investment Management’s argument that New York’s Martin Act …
Bank of America Corp. was sued by 15 former Countrywide Financial Corp. institutional investors who said they lost money after being misled about the mortgage lender’s financial condition and lending practices. BlackRock Inc., the California Public Employees’ Retirement System (CalPERS), …
The U.S. Supreme Court considered Monday whether to make it more difficult for shareholders to proceed with certain class-action securities-fraud lawsuits against publicly traded companies. The hour-long arguments before the justices in the case comes at a time when dozens …
The U.S. Supreme Court on Monday is set to hear arguments in a case that could dramatically raise the bar for shareholders seeking to file class-action lawsuits against public companies. The issue is especially timely, because dozens of shareholder class …
