Ignoring the Real Money in the Bank of America Lawsuits

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Ignoring the Real Money in the Bank of America Lawsuits

Ignoring the Real Money in the Bank of America Lawsuits

It’s only a matter of time, Bank of America is about to implode… Time is not on their side 🙂


NYT-

The bitter aftertaste from Bank of America’s acquisition of Merrill Lynch refuses to dissipate.

Gretchen Morgenson of The New York Times has reported that plaintiffs’ law firms representing shareholders are fighting over whether to settle class-action lawsuits against the Bank of America board over the acquisition for $20 million.

A group of law firms representing plaintiffs who sued for similar claims in Delaware are up in arms that the deal in Manhattan is a shareholder sellout. But while the settlement is problematic, another federal securities lawsuit out there is the real billion-dollar case. This case is based on false statements in Bank of America’s proxy solicitation for approval of the Merrill acquisition. This is where the real money is.

So why is there a difference in the potential winnings in the shareholder cases and the federal securities case?

[NEW YORK TIMES]

image source: TIME

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