BofA Looks To Slip La. AG's Bond Price-Rigging Suit
Law360 (November 26, 2019, 7:27 PM EST) -- Bank of America asked to be excused Tuesday from the Louisiana state attorney general's suit accusing it and several other big banks of rigging the price of bonds issued by government-sponsored entities like Fannie Mae and Freddie Mac.
Rather than argue that Bank of America NA participated in the alleged conspiracy, the state actually points the finger at Merrill Lynch, a subsidiary of BofA, without demonstrating how or why BofA should be held liable, BofA told a Louisiana federal judge in its dismissal bid.
According to BofA, Louisiana's allegations against it were lifted "almost verbatim" from a recent filing in a...
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