Asset Management Fund et al v. Bank Of America Corporation et al

Track this case

Case Number:

2:12-cv-04775

Court:

California Central

Nature of Suit:

Securities/Commodities

Judge:

Mariana R. Pfaelzer

Firms

Motley Rice

Companies

Sectors & Industries:

Financial
- Foreign Money Center Banks
- Money Center Banks

January 14, 2013
Judge Tosses $193M Countrywide MBS Fraud Suit

A California federal judge on Thursday dismissed a multidistrict litigation member case accusing several Bank of America Corp. units of misrepresenting nearly $193 million in mortgage-backed securities, ruling the mutual fund manager suing the bank had brought its claims too late.
December 18, 2012
Fund's MBS Fraud Claims Time-Barred, Countrywide Says

The claims of a mutual fund group suing Countrywide Financial Corp. for misrepresenting the quality of mortgage-backed securities are time-barred because it knew of problems in the MBS market more than three years before filing suit in March, Countrywide told a California judge Tuesday, urging that the case be thrown out.