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Florida wants settlement from Bank of America
By Jane Sutton
MIAMI, July 1 (Reuters) - The U.S. state of Florida hopes to negotiate a monetary settlement with Bank of America Corp (BAC.N: Quote, Profile, Research) for what the state calls deceptive lending practices by the bank’s newly acquired mortgage unit, Countrywide Financial Corp, the state attorney general said on Tuesday.
“There is technically a [...]
Countrywide Investors Lose Bid to Stop Settlement Over Buyout
July 4 (Bloomberg) — Investors suing over Bank of America Corp.’s $2.5 billion buyout of Countrywide Financial Corp. lost an attempt to stop a settlement of claims that company officials sold the largest U.S. home lender too cheaply.
Delaware Chancery Judge John Noble yesterday refused to put on hold a settlement of lawsuits alleging Countrywide directors’ [...]
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