Bloomberg News

AIG Bid to Move BofA Lawsuit to State Court Denied by Judge

October 21, 2011

(Updates with order in third paragraph.)

Oct. 21 (Bloomberg) -- American International Group Inc.’s request to move a $10 billion lawsuit against Bank of America Corp. to state court from federal court was denied by a U.S. judge.

AIG in August sued Bank of America in New York state court over $10 billion in losses on mortgage-bond investments. Charlotte, North Carolina-based Bank of America then moved the case to federal court.

U.S. District Judge Barbara Jones in Manhattan denied New York-based AIG’s request to return the case to state court in an order dated yesterday.

The case is American International Group Inc. v. Bank of America Corp., 11-06212, U.S. District Court. Southern District of New York (Manhattan).

--Editors: Stephen Farr, Charles Carter

To contact the reporter on this story: David McLaughlin in New York at dmclaughlin9@bloomberg.net

To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net


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