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Browse: Home / 2011 / August / 09 / BofA plunges as AIG sues for $10 billion ‘fraud’

BofA plunges as AIG sues for $10 billion ‘fraud’

By Securities Docket on August 9, 2011, 1:08 pm

Bank of America Corp shares plunged more than 20 percent on Monday, capping a three-day rout in which the largest U.S. bank lost nearly one-third of its market value. Monday’s decline was triggered by a $10 billion lawsuit from American International Group Inc alleging a “massive” mortgage fraud.

Read more: BofA plunges as AIG sues for $10 billion ‘fraud’ — Reuters

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Posted in Industry, Top | Tagged Mortgage-Backed Securities

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