On Monday, the Second Circuit overturned a jury verdict and $1.27 billion penalty against Bank of America imposed under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), 12 U.S.C. § 1833a. Because the Government failed to demonstrate that Countrywide Home Loans, Inc. (Countrywide) intended at the time of contracting to defraud Fannie
Scott Burnett Smith’s practice covers class actions, complex litigation, and appeals. Scott has been involved in dozens of nationwide class actions in state and federal courts and has handled over 30 class action appeals.