Thank you for sharing!

Your article was successfully shared with the contacts you provided.

It may be that Bank of America caught a break in April when the enormous securities class action challenging the bank’s disclosures in advance of its merger with Merrill Lynch was transferred from Manhattan federal district court Judge Denny Chin (who is now on the 2nd U.S. Circuit Court of Appeals) to Judge Kevin Castel — and not, as we noted at the time, to Judge Jed Rakoff, who had made life hell for the bank in its attempt to resolve the Securities and Exchange Commission’s suit over the Merrill deal.

But Castel has turned out to be no pushover for the bank’s arguments. Far from it. On Friday, in a comprehensive 140-page decision, he green-lighted key claims by Bank of America shareholders in a securities class action and a companion derivative suit.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.