Judge calls for dismissal of securities case against Bank of America

03/28/2014 | Reuters

U.S. Magistrate Judge David Cayer has recommended that a lawsuit against Bank of America over the sale of $855 million in mortgage securities be dismissed. The lawsuit, which was brought by the government, alleges that Bank of America misled other institutions into buying the securities. Cayer's recommendation will be considered by U.S. District Judge Max Cogburn.

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