US court rejects Bank of America mortgage risk lawsuit

A US Supreme Court has rejected NECA-IBEW Pension Trust Fund's case which had tried to revive a putative class action against Bank of America, accusing it of raising billions of dollars in stock offerings in 2008 without disclosing their secondary mortgage market exposure. 

By Dani Kass (January 11, 2016, 7:25 PM EST) -- The U.S. Supreme Court on Monday turned away a pension fund's case that had sought to revive a putative class action accusing Bank of America Corp. of raising billions of dollars in stock offerings in 2008 without disclosing their secondary mortgage market exposure....

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