BofA Wins Dismissal From Countrywide Securities Suit

Bank of America (BAC) dismissed from Countrywide mortgage-backed securities suit brought by investors who bought MBS sold by Countrywide Financial Corp, Bloomberg reports. U.S. District Judge Mariana Pfaelzer granted BofA’s request to dismiss the claim against it on grounds that it can’t be held liable for actions of a unit, according to an April 20 order filed in Los Angeles.

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