Judge Denies American International Group, Inc. Motion In Bank of America Corporation's $8.5 Billion Settlement-Reuters

Reuters reported that a New York judge on Tuesday rejected an effort by American International Group, Inc. and other objectors to Bank of America Corporation's proposed $8.5 billion mortgage bond settlement to convert the case to a proceeding that may have widened its scope. New York state Supreme Court Justice Barbara Kapnick, who must decide whether to approve the settlement, denied the motion by AIG and other groups of investors to turn the limited proceeding known as an Article 77 into a broader inquiry known as a plenary action.