More questions are surfacing about Bank of America’s proposed $8.5 billion settlement with the trustee for holders of Countrywide residential mortgage-backed securities.
Last week David Grais, a partner at Grais & Ellsworth, challenged the lawsuit on behalf of a single group of investors (NYLJ, July 7). On Wednesday, Mr. Grais joined lawyers at Keller Rohrback and Robins, Kaplan, Miller & Ciresi in a petition to intervene in the Manhattan state court settlement proceedings on behalf of six of the nation’s federal home loan banks, seeking more information on the deal. Mr. Grais also filed a separate petition to intervene for another investor, client TM1 Investments LLC.
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