Bank of America (BAC) wins a dismissal in a lawsuit filed by Allstate (ALL) over losses incurred...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Bank of America (BAC) wins a dismissal in a lawsuit filed by Allstate (ALL) over losses incurred from mortgage-backed securities purchased from BofA-acquired Countrywide Financial. The judge's ruling allows Allstate to refile a narrower case, but it gives BofA a stronger position if settlement negotiations commence.