Delaware Judge Says BofA Can Offer $20 Million Lawsuit Settlement For NY Approval -Bloomberg
May 04 2012 - 3:28PM
Dow Jones News
A Delaware judge ruled that Bank of America Corp. (BAC) may
offer a proposed $20 million shareholder lawsuit settlement,
denying a request from a different shareholder group, which had
also sued the bank over the purchase of Merrill Lynch, Bloomberg
News reported Friday.
The $20 million proposed settlement with plantiffs who sued Bank
of America in New York was announced last month. A Delaware
plantiff group has opposed that settlement.
Delaware Chancery Court Judge Leo Strine said in a hearing that
"I have no confidence that I have the authority to enjoin parties
to a federal proceeding," Bloomberg reported.
Full story at
http://www.bloomberg.com/news/2012-05-04/bofa-can-offer-merrill-settlement-for-approval-in-n-y-.html
-Dow Jones Newswires; 212-416-2900
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