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4-Traders Homepage  >  Equities  >  Nyse  >  Bank of America Corp    BAC

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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 89 350 M
EBIT 2017 34 215 M
Net income 2017 19 599 M
Debt 2017 -
Yield 2017 1,59%
P/E ratio 2017 13,10
P/E ratio 2018 11,10
Capi. / Sales 2017 2,69x
Capi. / Sales 2018 2,58x
Capitalization 240 086 M
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Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 25,8 $
Spread / Average Target 7,6%
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Managers
NameTitle
Brian T. Moynihan Chairman, President & Chief Executive Officer
Eugene M. McQuade President & Director
Catherine P. Bessant Co-COO & Chief Technology Officer
Tom Montag Co-Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
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