In the last week we’ve seen some flashy headlines about lawsuits stemming from the financial crisis. On Friday, Bank of America Corp. announced that it had agreed to pay $2.43 billion to settle a shareholder suit over allegedly inadequate disclosures it made when it acquired Merrill Lynch & Co. in 2009. Then on Tuesday New York Attorney General Eric Schneiderman brought a sweeping lawsuit accusing J.P. Morgan Chase Bank of deceiving investors in mortgage-backed securities before the financial crisis. (The suit focuses on the activities of Bear Stearns & Co. Inc., which JPMorgan acquired.)
Sounds like good news for those concerned about tough enforcement of our securities laws, right?
