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Courts

Countrywide gets OK to settle suit

August 26, 2009|Times Wire Reports

Bank of America Corp.'s Countrywide Financial Corp. unit won permission to settle a 2008 lawsuit filed by shareholders over the $2.5-billion takeover of the mortgage lender.

Delaware Chancery Court Judge John Noble decided that the settlement, which provided additional information about the July 1, 2008, acquisition, was fair. He overruled objectors pursuing additional claims, including more money.

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