Class Certified In $5.9M Suit Over BofA MDL Fund Theft

Law360, New York (March 24, 2016, 8:43 PM EDT) -- A Pennsylvania federal judge on Thursday granted class certification to a group accusing Heffler Radetich & Saitta LLP of failing to stop an employee from stealing $5.9 million from a $490 million settlement fund it has overseen related to litigation over Bank of America Corp.'s 1998 merger with NationsBank Corp.

Over the protests of Heffler, U.S. District Judge Jan E. DuBois certified a class of plaintiffs suing the accounting firm and individual employees for fraud, malpractice, negligence and breach of fiduciary duty stemming from the firm's $5.87 million payment of settlement funds to a former Heffler employee, who schemed with co-conspirators...

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