BofA Merger Settlement Administrator Can’t Beat Fraud Suit

Law360, New York (August 11, 2017, 8:45 PM EDT) -- An accounting firm that was sued after it gave $6 million in settlement funds meant for Bank of America Corp. investors to a fraudster had two potential defenses spiked by a Pennsylvania federal judge on Friday, with the court saying the suit against Heffler Radetich & Saitta LLP couldn’t be stopped by procedural stumbling blocks.

James Oetting, an investor in BofA predecessor NationsBank Corp., leads a class that blames Heffler and three of its partners for failing to detect a scheme by auditor Christian Penta to...
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