‘The Second Circuit Polices the Contract-Tort Boundary’

“On Monday the Second Circuit released its decision in US ex rel O’Donnell v Countrywide Home Loans. This is a major case – in terms of dollar amounts (the trial court had assessed a $1.27 billion penalty against Countrywide), for understanding the law’s ability to deal with the wrongs that caused the subprime mortgage crisis, and with respect to the legal question of where to draw the line between contracts and torts. There’s much more going on in the case than I can summarize here. But here are some initial thoughts on it …” (more)

[Greg Klass, New Private Law, 27 May]

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