High Court Won't Review BofA's Win In $3B Deal Dispute

Law360 (February 25, 2019, 2:31 PM EST) -- The U.S. Supreme Court refused Monday to review whether Bank of America wrongly profited from a $3 billion transfer of workers' retirement assets, turning away a challenge by a class of bank employees to a Fourth Circuit ruling.

The high court's certiorari denial leaves intact the circuit court's ruling from June, which upheld a North Carolina federal judge's decision to reject the class's request for an accounting of profits related to the transfer of $3 billion from the workers' 401(k) plan to a traditional pension plan in 1998.

The workers claimed that the appeals court should have applied principles of equity...

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