BofA Investors Can't Halt $20M Merrill Settlement

Law360, New York (May 4, 2012, 4:40 PM EDT) -- A Delaware judge on Friday denied Bank of America Corp. shareholders' bid to prevent another class of investors from asking a New York federal court to approve a $20 million settlement to resolve allegations the bank overpaid when it bought Merrill Lynch & Co. Inc.

The Delaware plaintiffs had claimed the proposed derivative settlement in New York — which would end several lawsuits taking Bank of America to task over the Merrill Lynch buy — would interfere with their litigation.

Delaware Court of Chancery Judge Leo...
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