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Bank of America Corporation Settlement Faces Shareholder Challenge


Bank of America Corporation (NYSE:BAC)’s propsed $20m settlement is facing a challenge from shareholders.

Bank of America Corporation Settlement Faces Shareholder Challenge

Bank of America Corporation (NYSE:BAC) has announced that a recently proposed $20 million settlement of shareholder claims by the company over its 2009 acquisition of Merrill Lynch is being challenged by a separate group of shareholders as inadequate.

P. Kevin Castel, a federal judge in New York, ordered Bank of America Corporation (NYSE:BAC) directors who were sued over the deal to defend the settlement in court on May 4, along with the lead shareholders they settled with.

Bank of America Corp. (NYSE:BAC) shares are currently standing at 8.36.

Bank of America Corporation Settlement Faces Shareholder Challenge
Price History
Last Price: 8.36
52 Week Low / High: 4.92 / 12.71
50 Day Moving Average: 8.71
6 Month Price Change %: 29.4%
12 Month Price Change %: -32.1%


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