Lawyer warns of securities fraud lawsuits over foreclosure crisis

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US banks could be hit with more lawsuits over the foreclosure crisis, warns one lawyer, although much hinges on the market reaction to the latest lawsuit to be filed against Bank of America Corporation.

Bank of America is the first US financial institutions to be cited for securities fraud relating to the foreclosure crisis, in a lawsuit filed at the start of April.

Dom Auld, of counsel at law firm Labaton Sucharow, says the nature of the fraud means other institutions might not face the type of

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