Litigation

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$2.43 Billion BofA/ Merrill Lynch Merger Results In Largest Credit-Crisis Class Action Settlement
Posted on 17 Oct 2012 by Kevin M. LaCroix

In what is by far the largest settlement of a credit crisis-related securities class action lawsuit, Bank of America has agreed to pay $2.43 billion to settle the suit filed against the company and certain of its directors and officers in connection with... Read More

Renewed Dismissal Motions In Bank of America/Merrill Lynch Litigation Denied In Part, Granted In Part
Posted on 3 Aug 2011 by Kevin M. LaCroix

The facts and circumstances surrounding Bank of America's credit crisis-induced acquisition of Merrill Lynch remain among the highest profile and most controversial events during the global financial crisis. In a July 29, 2011 opinion ( here ), Southern... Read More

Thoughts About WikiLeaks And Executive Liability
Posted on 3 Dec 2010 by Kevin M. LaCroix

Though it quickly recovered, Bank of America's share price declined earlier this week on speculation that the company is the bank whose internal documents WikiLeaks intends to post on the Internet at some future date. According to news reports , the... Read More

Merrill Lynch/Bank of America Subprime-Related 'Double Derivative' Lawsuits Dismissed
Posted on 31 Mar 2011 by Kevin M. LaCroix

In a March 29, 2011 order ( here ), Southern District of New York Judge Jed Rakoff granted the defendants' motions to dismiss a pair of subprime-related derivative lawsuits that had been brought against certain directors and officers of Merrill Lynch... Read More

SEC Reaches $137M Settlement With Bank Of America Subsidiary In Municipal Bond Investigation
Posted on 8 Dec 2010 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) A former subsidiary of Bank of America Corp. that is now part of Merrill Lynch, Pierce, Fenner and Smith LLP on Dec. 7 agreed to a $137 million settlement of a Securities and Exchange Commission investigation into allegations... Read More

Bank Of America To Pay $2.43 Billion To Settle Securities Class Action Lawsuit
Posted on 1 Oct 2012 by Timothy Raub

NEW YORK - In what is being called the largest settlement of a credit-crisis-related securities class action lawsuit, Bank of America Corp. (BoA) has agreed to a $2.43 billion settlement on claims that it and certain of its executive officers and directors... Read More

AIG Sues Bank Of America For $10 Billion Over Mortgages
Posted on 10 Aug 2011 by LexisNexis Litigation Resource Community Staff

NEW YORK - (AP) More trouble piled up for Bank of America Corp. on Monday, as American International Group Inc. sued it for more than $10 billion, saying the bank cheated it by selling residential mortgage-backed securities that were overvalued. The suit... Read More

Allstate Sues Goldman Sachs Over Toxic Investments
Posted on 18 Aug 2011 by LexisNexis Litigation Resource Community Staff

(AP) Allstate Corp. is suing Goldman Sachs Group Inc. claiming the broker fraudulently sold it more than $123 million in mortgage-backed securities in 2006 and 2007, before the housing market collapse sent the investments' value plunging. The insurer... Read More