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Louis Brown’s Street Smart Systems » Suit against Bank of America gets class-action status
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post Suit against Bank of America gets class-action status

February 7th, 2012

Filed under: News — Louis Brown @ 3:25 am

A federal judge on Monday approved class-action status for a lawsuit accusing Bank of America Corp. and some of its senior executives and directors of misleading shareholders about the takeover of Merrill Lynch in 2008. The San Franciso Business Times reported that the shareholder suit concerns the size of Merrill Lynch's losses and the bonus payments made then. The class-action designation increases the potential for a substantial award against the bank, should shareholders prevail, the Times reported…

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