A New York court has rejected investors pleas for additional records detailing the settlement negotiations between Bank of America (BAC) (Countrywide) and The Bank of New York Mellon (BK), according to Reuters.
The controversial deal, which included an $8.5 billion settlement agreement resolving issues related to mortgage-backed securities that Countrywide sold to investors, has raised the ire of investors for more than a year.
One investor, American International Group (AIG), joined other investors in asking the court to get records that detail the negotiations, Reuters reported.
Judge Barbara Kapnick refused to grant the investors additional records on the BofA-BNY Mellon mortgage bond settlement, ruling that investors should try to obtain that information through witness testimony, the newspaper said.
One major investor, Walnut Place, settled with BofA and BNY Mellon last month, effectively ending their yearlong role as an official objector to the settlement.
Click here to read more in Reuters.
