BofA Shakes Retirees' 401(K) Class Action

Law360, New York (August 20, 2013, 6:49 PM EDT) -- A North Carolina federal judge on Monday tossed a proposed class action alleging Bank of America Corp. denied its retirees a separate retirement account for 401(k) assets, finding that the claims were moot because the bank had already fixed the problem.

U.S. District Judge Graham C. Mullen granted summary judgment to BofA in the suit filed by bank retirees, finding that since BofA's restoration of the feature eradicated any negative effects of the bank's alleged Employee Retirement Income Security Act and Internal Revenue Code violations, the...
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