Judge OKs $40M BofA Deal With Ex-Advisers Amid Objections

Law360, New York (September 18, 2012, 3:01 PM EDT) -- A New York federal judge on Tuesday approved a $40 million settlement of class action claims that Merrill Lynch & Co. Inc. financial advisers were shortchanged after the merger with Bank of America Corp., following a move by three former brokers to sink the deal.

U.S. District Judge Alison Nathan gave the preliminary green light to the settlement, subject to a hearing to be held in February, according to the order. The judge further found that class certification for settlement purposes was appropriate, and appointed named...
To view the full article, register now.