This is a reuters.com article.
A lawsuit against Bank of America Corp alleging the bank’s Countrywide mortgage unit fraudulently induced an insurer to cover more than $25 billion of mortgage-backed securities can proceed, a New York judge has ruled.
In a decision made public Tuesday, Manhattan Supreme Court Justice Eileen Bransten denied a summary judgment motion seeking to dismiss the case by Countrywide and Bank of America against plaintiff Ambac Assurance Corp.
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