Skadden Arps Slate Meagher & Flom has taken the lead role representing Bank of America (BoA) in its $16.6bn (£10bn) settlement with the US Department of Justice (DoJ) over claims the bank misled investors over mortgage-backed securities sold in the run-up to the financial crash.
The agreement, announced yesterday (21 August), resolves charges by the DoJ, the Securities Exchange Commission (SEC), six states, the Federal Deposit Insurance Corp (FDIC) and the Department of Housing and Urban Development.
