A New York court on Thursday approved Bank of America's $8.5 billion settlement with private investors, likely concluding a years-long legal fight, according to multiple media outlets.
The case, often referred to as the Bank of New York Mellon suit, dates back to a 2011 settlement between Charlotte-based Bank of America Corp. (NYSE:BAC) and two dozen private investors that had purchased sour Countrywide mortgage securities. A small group of investors objected to that deal, claiming trustee Bank…Huwebes, Marso 5, 2015
Judge approves $8.5B deal over Bank of America mortgages
A New York court on Thursday approved Bank of America's $8.5 billion settlement with private investors, likely concluding a years-long legal fight, according to multiple media outlets.
The case, often referred to as the Bank of New York Mellon suit, dates back to a 2011 settlement between Charlotte-based Bank of America Corp. (NYSE:BAC) and two dozen private investors that had purchased sour Countrywide mortgage securities. A small group of investors objected to that deal, claiming trustee Bank…
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