From Gina Keating at Reuters:
Keating also reports that federal prosecutors are still trying to develop a criminal case against Mozilo.
The case against Mozilo, long one of the most prominent officials in the U.S. mortgage lending industry, constitutes the highest-profile civil case stemming from the U.S. housing collapse.
Mozilo co-founded Countrywide in 1969 and publicly expressed strong confidence in its prospects and survival even as problems began to mount. Bank of America Corp bought the company for $2.5 billion last July 1.
*Mozilo also made Time magazine's list of 25 people most to blame for the financial crisis.