California Court To Review Bank Of America Case

Law360, New York (March 22, 2007, 12:00 AM EDT) -- The California Supreme Court agreed on Wednesday to rehear an appeals ruling that reversed a $1.6 billion damage award against Bank of America Corp. for allegedly misappropriating accounts' Social Security benefit deposits to cover overdraft fees.

The court, based in San Francisco, approved without comment a petition by the plaintiffs to review a November appeals court decision that sided with the bank.

The California Court of Appeal for the First Appellate District ruled that the lower court had erred when it awarded plaintiffs almost $300 million...
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