American International Group Inc. was blocked from pursuing some claims against Bank of America Corp.'s Countrywide unit that are part of a lawsuit over $10 billion in losses related to residential mortgage-backed securities, Bloomberg News reported today. U.S. District Judge Mariana Pfaelzer yesterday dismissed AIG's securities-law claims as untimely because they were filed more than three years after the bonds were first sold. The judge also said some state-law claims by AIG units in Arizona, California, Texas and Tennessee were time barred.
