Judge Clears Way For Settlement In BofA, US Bank RMBS Suit

Justice League

Case Information

Case Title

Policemen’s Annuity and Benefit Fund Of The City Of Chicago v. Bank of America, NA et al

 

Case Number

1:12-cv-02865

Court

New York Southern

Nature of Suit

Other Statutory Actions

Judge

Katherine B. Forrest

Law360, New York (August 19, 2014, 11:36 AM ET) — A New York federal judge on Monday made way for a settlement by Bank of America NA and U.S. Bank NA of an investor suit over residential mortgage-backed securities, finding the pending deal makes moot a bid to certify a class of investors who alleged the banks failed in their role as the trustees of pools of the securities.

U.S. District Judge Katherine B. Forrest cited the potential settlement, first disclosed to the court in a June 5 letter, in an order terminating a pending motion…

 
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