Judge Dismisses Fraud Claims Against Bank Of America, Former CEO

Judge Dismisses Fraud Claims Against Bank Of America, Former CEO

NEW YORK - A federal judge in New York on Dec. 11 ruled that dismissal of a securities class action lawsuit against Bank of America Corp. (BofA) and its former CEO is proper because shareholders' state-law claims regarding BofA's acquisition of Merrill Lynch & Co. Inc. are precluded by the Securities Litigation Uniform Standards Act (SLUSA) (In re Bank of America Corp. Securities, Derivative and ERISA Litigation, No. 09-2058; [Melgen, et al. v. Bank of America Corp., et al., No. 12-5210], S.D. N.Y.).

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