Levine Lee News

Firm Obtains Dismissal of Section 11 Claim in Countrywide Litigation

The firm prevails on a motion to dismiss filed on behalf of our client, David Spector, a former Senior Managing Director of Countrywide Financial Corporation, in securities litigation arising from Countrywide’s sale of residential mortgage-backed securities. The suit sought damages against Countrywide and its former executives for alleged misrepresentations in the offering materials for 24 securitizations. The firm obtained dismissal of the case against our client with prejudice. Seth L. Levine, Scott B. Klugman and Miriam Alinikoff worked on the matter.

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