BofA's $4.7M Pay Stub Settlement Halted

Law360, New York (September 13, 2010, 2:30 PM EDT) -- Bank of America NA’s $4.7 million settlement with workers in California alleging pay stub inaccuracies has hit a stumbling block, with a court holding up the deal because the bank failed to properly notify judges overseeing related multidistrict litigation.

On Friday, Judge John W. Lungstrum of the U.S. District Court for the District of Kansas, the site of 12 consolidated wage-and-hour suits against BofA, issued an emergency injunction barring the bank from alerting class members to the $4.7 million settlement, saying the U.S. Judicial Panel on...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.