Judge: Investor Failed To Plead Majority Of Claims In Securities Suit

Judge: Investor Failed To Plead Majority Of Claims In Securities Suit

LOS ANGELES - An investor has failed to properly plead its Massachusetts state securities law claims against Countrywide Financial Corp. and others regarding the investor's purchase of certain mortgage-backed securities (MBS) based on allegedly false and misleading information, a federal judge in California ruled April 16 in substantially dismissing the investor's amended complaint (In re Countrywide Financial Corp. Mortgage-Backed Securities Litigation, No. 11-ML-02265-MRP (MANx); (Massachusetts Mutual Life Insurance Co. v. Countrywide Financial Corp., et al., No. 11-10414), C.D. Calif.).  Subscribers may view the order available within the full update.

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