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Delaware Judge Says BofA Can Offer $20 Million Lawsuit Settlement For NY Approval -Bloomberg

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05/04/2012 | 09:14pm CEST

A Delaware judge ruled that Bank of America Corp. (>> Bank of America Corp) may offer a proposed $20 million shareholder lawsuit settlement, denying a request from a different shareholder group, which had also sued the bank over the purchase of Merrill Lynch, Bloomberg News reported Friday.

The $20 million proposed settlement with plantiffs who sued Bank of America in New York was announced last month. A Delaware plantiff group has opposed that settlement.

Delaware Chancery Court Judge Leo Strine said in a hearing that "I have no confidence that I have the authority to enjoin parties to a federal proceeding," Bloomberg reported.

Full story at http://www.bloomberg.com/news/2012-05-04/bofa-can-offer-merrill-settlement-for-approval-in-n-y-.html

-Dow Jones Newswires; 212-416-2900

Stocks mentioned in the article : Bank of America Corp
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Sales 2017 89 396 M
EBIT 2017 33 392 M
Net income 2017 19 402 M
Debt 2017 -
Yield 2017 1,51%
P/E ratio 2017 14,31
P/E ratio 2018 11,98
Capi. / Sales 2017 3,05x
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Capitalization 273 B
Chart BANK OF AMERICA
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Bank of America Technical Analysis Chart | BAC | US0605051046 | 4-Traders
Technical analysis trends BANK OF AMERICA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
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Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 27,5 $
Spread / Average Target 6,3%
EPS Revisions
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NameTitle
Brian T. Moynihan Chairman, President & Chief Executive Officer
Catherine P. Bessant Co-COO & Chief Technology Officer
Thomas Kell Montag Co-Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
Thomas J. May Independent Director
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