Class Leads Picked For BofA-Merrill Buyout Battle

Law360, New York (July 2, 2009, 12:00 AM EDT) -- A federal judge has divided 30 pending cases accusing Bank of America Corp. of misleading investors into signing off on its $50 billion acquisition of Merrill Lynch & Co. into three major groups — securities, derivatives and 401(k) plan claimants — and picked interim leads for the putative classes.

All 30 cases, each seeking restitution for losses resulting from the sudden BofA stock losses after Merrill's grave financial condition was publicly revealed post-merger, will now proceed as three major consolidated groups, Judge Denny Chin of the...
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