BofA Says La. Never Plugged Holes In Bond Price-Fixing Suit

Law360 (December 18, 2019, 8:23 PM EST) -- Bank of America says it can’t be held accountable for the alleged actions of its subsidiary Merrill Lynch in a suit accusing it and other big banks of working together to rig the price of bonds issued by government-sponsored entities such as Fannie Mae and Freddie Mac.

The banking giant told a Louisiana federal judge Tuesday that it must be let out of a suit filed by the state’s attorney general because he failed, even after amending the suit, to allege that Bank of America had done anything wrong.

If the state is to accuse Merrill Lynch only of taking part...

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