The Traderszone Network

Published in TZ Latest News 28 August, 2014 by The TZ Newswire Staff

Bank of America seeks to void verdict in $1.27 billion ‘Hustle’ case

Bank of America Corp on Thursday asked a federal judge to throw out a jury verdict finding it liable for fraud over defective mortgages sold by its Countrywide unit that resulted in a $1.27 billion penalty. District Judge Jed Rakoff in Manhattan to rule for it as a matter of law or order a new trial, arguing that the evidence at trial did not support the jury’s October 2013 verdict.

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