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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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Financials ($)
Sales 2017 89 498 M
EBIT 2017 33 615 M
Net income 2017 19 558 M
Debt 2017 -
Yield 2017 1,64%
P/E ratio 2017 13,02
P/E ratio 2018 10,85
Capi. / Sales 2017 2,62x
Capi. / Sales 2018 2,52x
Capitalization 234 050 M
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Bank of America Technical Analysis Chart | BAC | US0605051046 | 4-Traders
Technical analysis trends BANK OF AMERICA
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Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 26,7 $
Spread / Average Target 12%
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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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