On Tuesday, in a huge win for shareholders, a New York federal judge took the unusual step of lifting the statutory discovery stay in a securities class action suit against Bank of America. His order will give the plaintiffs access to the mountains of documents that BofA and related defendants have already turned over to Congress, the Securities and Exchange Commission, the New York attorney general and other government entities scrutinizing the bank's acquisition of Merrill Lynch.
Key Ruling in BofA Securities Class Action Gives Plaintiffs Access to Treasure Trove of Documents
The American Lawyer
November 19, 2009