NY, Delaware AGs Allowed To Intervene In $8.5B Bank of America Settlement

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NY, Delaware AGs Allowed To Intervene In $8.5B Bank of America Settlement

NY, Delaware AGs Allowed To Intervene In $8.5B Bank of America Settlement

“This action concerns far more than the financial interests of a few sophisticated investors,” Pauley wrote. “And the intervention of the State AGs in this action will protect the interests of absent investors.”

 WSJ-

The federal judge presiding over the landmark $8.5 billion settlement between Bank of America Corp. (BAC) and major investors in mortgage-backed securities has allowed the state attorneys general of New York and Delaware to intervene in the case.

In a ruling dated Friday, Judge William H. Pauley agreed with the state lawmakers that the massive settlement carries implications for the nation’s financial markets, not just the investors who will be impacted by the pact.

“This action concerns far more than the financial interests of a few sophisticated investors,” Pauley wrote. “And the intervention of the State AGs in this action will protect the interests of absent investors.”

[WALL STREET JOURNAL]

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One Response to “NY, Delaware AGs Allowed To Intervene In $8.5B Bank of America Settlement”

  1. Journalists’s Civil Rights Complaint Names Bank of America, CA State Bar, CA Attorney General For Violating 1st Amendment Freedom, See: http://cacorruptionwatch.wordpress.com.

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