Judge OKs $40M BofA Deal With Ex-Advisers Amid Objections

Law360, New York (September 18, 2012, 3:01 PM EDT) -- A New York federal judge on Tuesday approved a $40 million settlement of class action claims that Merrill Lynch & Co. Inc. financial advisers were shortchanged after the merger with Bank of America Corp., following a move by three former brokers to sink the deal.

U.S. District Judge Alison Nathan gave the preliminary green light to the settlement, subject to a hearing to be held in February, according to the order. The judge further found that class certification for settlement purposes was appropriate, and appointed named...
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