Judge Sends Back $20 Million Settlement to Bank of America Suit

The judge, P. Kevin Castel, voiced clear reservations about the $20 million settlement in a ruling on Friday, concluding that fees requested by the lawyers for the two funds could consume “some, most or all” of the money. The deal was reached last spring, months before two other pension funds in a separate lawsuit negotiated a $2.4 billion settlement with the bank over the Merrill purchase.

via Judge Sends Back $20 Million Settlement to Bank of America Suit – New York Times