Law360, New York (May 26, 2016, 8:27 PM EDT) -- A New Jersey federal judge on Thursday tossed a proposed class action accusing a number of companies of manipulating the force-placed insurance market for financial gain, the day after Bank of America and others agreed to settle the claims.U.S. District Judge Claire C. Cecchi’s order followed a Wednesday announcement by consumers James and Barbara Bowles that they had reached agreements with Bank of America Corp., QBE Insurance Corp. and related companies to resolve their claims. Terms of the deal were not disclosed.The Bowles had alleged that Wilshire Credit Corp. — once owned by the bank and most recently by... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
A US District Judge has dismissed a similar class action accusing a number of firms of manipulating the well - placed insurance market for financial gain a day after Bank of America and other banks agreed to settle the claims .