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More Trouble For BofA CEO
Posted to: Around The Web
Wednesday, April 17, 2013 9:09 PM

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By Jonathan Stempel April 17 (Reuters) - A federal judge has revived a securities fraud lawsuit accusing Bank of America Corp Chief Executive Brian Moynihan, his predecessor Kenneth Lewis, and others of misleading shareholders about the risk the bank might have to buy back large amounts of soured mortgages. U.S. District Judge William Pauley in Manhattan in July had dismissed various claims against the executives by shareholders led by the Pennsylvania Public School Employees' Retirement System, while letting their case against the second-largest U.S. bank proceed. But Pauley said the new allegations in an amended lawsuit "plausibly establish fraudulent conduct and a culpable state of mind as to all executive defendants" for allegedly concealing the buyback potential when certifying


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Mortgage Rates:
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MBS Prices:
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Recent Housing Data:
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