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Ruling Clears Way For $7 Billion A.I.G. Suit Against Bank Of America

Wednesday, May 8, 2013 - 7:49 AMBank of America
A California judge has opened the door for the American International Group to pursue a fraud claim of more than $7 billion against Bank of America for losses it suffered on mortgage securities sold under duress after the federal government rescued A.I.G. in 2008.  The ruling, issued late Monday, is a setback for Bank of America, which has been trying to rid itself of numerous legal claims from investors who bought mortgage securities issued by the bank’s Countrywide Financial and Merrill Lynch units.

Judge Says AIG Can Sue BofA Over Mortgages - WSJ.com
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