Saturday, August 28, 2010

BofA loses bid to end investor lawsuits on Merrill

U.S. District Judge P. Kevin Castel issued his 140-page ruling late on Friday afternoon. Nine days earlier, the largest U.S. bank and former Chief Executive Kenneth Lewis denied civil fraud charges made in a separate lawsuit by New York Attorney General Andrew Cuomo over the merger.


Bank of America spokeswoman Shirley Norton said the Charlotte, North Carolina-based lender was reviewing the ruling. Lawyers for bank shareholders in the lawsuits did not immediately return calls seeking comment.

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