Court Muzzles Plaintiffs In $137M BofA Muni Bond Pact

Law360, New York (May 17, 2011, 8:07 PM EDT) -- A New York federal judge on Monday barred plaintiffs in multidistrict litigation over alleged bid-rigging in the bond derivatives market from trying to dissuade municipalities from participating in Bank of America Corp.’s $137 million settlement with state and federal authorities.

With plaintiffs and authorities jockeying over the language of the settlement notice, U.S. Magistrate Judge Gabriel W. Gorenstein issued a clarifying order to ensure that counsel in the MDL only use the list of settlement participants to comment on the notice, not to further the private...
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