On September 9, Judge Mariana Pfaelzer of the U.S. District Court for the Central District of California granted Bank of America's motion to dismiss claims for fraudulent concealment, negligent misrepresentation, aiding and abetting, mutual mistake and successor liability brought by Deutsche Zentral-Genossenschaftsbank AG (DZ Bank) in a lawsuit over Bank of America's MBS offerings. In doing so, Judge Pfaelzer extended her earlier decision in the case, dismissing as time-barred under German and New York law, claims regarding the sale of Countrywide MBS. The court applied the same analysis to offerings by Bank of America/Merrill Lynch not backed by Countrywide loans. Claims related to credit ratings remain in the case. Judge Pfaelzer also declined to suggest to the Judicial Panel of Multidistrict litigation that the Panel remand DZ Bank's case to state court. Order.
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