BAC Wins Dismissal From Allstate's Countrywide Suit

[Parsad]

The suit may be amended, but this is a big decision in BAC's favor if upheld and could apply to other suits against the company.  Cheers!

 

http://www.bloomberg.com/news/2012-02-03/bank-of-america-wins-dismissal-from-allstate-countrywide-suit.html?cmpid=yhoo

[PlanMaestro]

Bank of America is shaping up into a value investing case for the history books. People will ask, where were you when BAC was at $5 in Dec 2011?

[racemize]

at only 3%!  sadface.

[ERICOPOLY]

$19.86  -- April 15, 2010.

 

What a crazy stock market.

 

[Parsad]

Bank of America is shaping up into a value investing case for the history books. People will ask, where were you when BAC was at $5 in Dec 2011?

 

Buying hand over fist!  ;D  Cheers!

[enoch01]

Bank of America is shaping up into a value investing case for the history books.

 

I think that's right.  We still have a long way to go to intrinsic value.  This is doubly true if the judge's opinion reverberates through the rest of BAC's litigation issues:

 

"Bank of America, as a corporate parent, isn’t responsible for the liabilities of Countrywide, the mortgage lender it acquired in 2008, U.S. District Judge Mariana Pfaelzer in Los Angeles ruled yesterday."

 

That's icing on the cake in my book.

 

People will ask, where were you when BAC was at $5 in Dec 2011?

 

8)

[PlanMaestro]

Very good detail on the Allstate case: Bad News for Countrywide MBS Investors

 

http://blogs.reuters.com/alison-frankel/2012/02/06/bad-news-for-countrywide-mbs-investors-la-judge-tosses-bofa/