BofA $150M Deal Over Merrill Losses Still On Hold

Law360, New York (February 8, 2010, 4:41 PM EST) -- A federal judge has reportedly asked for more information regarding a proposed settlement that would allow Bank of America NA shareholders to cash in on a $150 million payout to settle charges over the bank's alleged misrepresentations during its takeover of Merrill Lynch & Co., citing fresh allegations recently brought to light in a separate lawsuit.

At a hearing in the U.S. District Court for the Southern District of New York on Monday, Judge Jed Rakoff said he would hold off on deciding whether to approve...
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