$25M MBNA Shareholder Deal Gets Judge's OK

Law360, New York (June 5, 2009, 12:00 AM EDT) -- A judge gave preliminary approval Friday to a $25 million settlement in a class action accusing MBNA Corp. and some of its officers and directors of failing to disclose the true financial condition of the company and making false and misleading statements to investors.

Chief Judge Gregory M. Sleet of the U.S. District Court for the District of Delaware gave preliminary approval to the deal between the plaintiffs and officers and directors and Bank of America NA, which purchased MBNA in 2005. He scheduled a hearing...
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