$137M BofA Muni Bond Settlement Put On Hold

Law360, New York (March 1, 2011, 8:18 PM EST) -- A federal judge Tuesday paused the implementation of a $137 million settlement Bank of America Corp. reached with state attorneys general over alleged bond market rigging, citing the objections of class action plaintiffs fighting the bank over the same claims.

The bank, which planned to send out notices approved by the attorneys general to possible claimants as soon as Thursday, will now have to negotiate with class action plaintiffs who claim the settlement did an end-run on their litigation, Judge Victor Marrero of the U.S. District...
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