BofA (BAC) and Societe Generale (SCGLF.PK) have appealed a judge's denial of a lawsuit in which...

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

BofA (BAC) and Societe Generale (SCGLF.PK) have appealed a judge's denial of a lawsuit in which they sought to reverse regulatory approval of MBIA's (MBI) restructuring in 2009. The bank's argue that overhaul harmed them as policy holders, and that the authorization "was arbitrary and capricious and an abuse of discretion."