Judge to consider $2.4B Bank of America/Merrill Lynch settlement
A proposed $2.42 billion cash deal to settle shareholder claims that Bank of America misled investors about its purchase of Merrill Lynch is scheduled to go before a federal judge in New York on Friday.
The settlement was announced in September but has yet to receive needed court approval.
The hearing before Judge Kevin Castel, of the Southern District of New York, is designed to determine whether the proposed settlement and allocation plan are fair. Castel also is being asked to approve attorneys fees.
The settlement was reached after shareholders claimed, among other things, that they had... read more
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