In a case we have followed closely, the parties to the derivative claims against Bank of America’s directors and officers relating to the Merrill Lynch and Countrywide acquisitions told Judge Castel today that they had executed a definitive settlement agreement, presumably reflecting the $20 million agreement in principle disclosed in April. In an interesting twist, Judge Castel issued an order suggesting that he might delay approval of the deal until after a trial on October 22 on related securities class action claims:
Continue Reading Judge Castel Considers Delaying Approval of Bank of America Derivative Settlement Pending Securities Class Action Trial