Court Sustains RICO and Other Claims Against Countrywide Financial Corp.
A federal district court has denied Countrywide Financial Corp.’s motion to dismiss a consolidated class action complaint against the lender. Judge Dana M. Sabraw, who is overseeing the multidistrict litigation against Countrywide entitled In Re Countrywide Financial Corp Mortgage Marketing and Sales Practices Litigation, sustained all claims for the majority of plaintiffs. The plaintiffs in the consolidated actions Levas v. Bank of America Corp., Jackson v. Countrywide Financial Corp. and White v. Countrywide Financial Corp. accuse Countrywide of steering borrowers into risky and inappropriate subprime mortgages irrespective of their suitability to borrowers in order to maximize profits. Whatley Drake & Kallas, LLC is co-lead interim class counsel in the multidistrict litigation.
