BofA Plan Participants Ask 4th Circ. To Revive Case

Law360, San Diego (December 22, 2011, 10:38 PM EST) -- Participants in Bank of America Corp.’s two employee savings plans on Wednesday urged the Fourth Circuit to revive their proposed class action alleging that plan administrators engaged in corporate self-dealing by pumping employee savings into BofA-affiliated funds.

In their appeals brief, the plaintiffs contest the North Carolina district court’s September decision granting the defendants’ summary judgment bid and dismissing the case with prejudice, arguing that the judge who had taken over the case lacked familiarity with the dispute and made a host of errors in his...
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