Investors suing BofA win class action status

The consolidated lawsuit will cover investors who owned BofA stock or call options between 2008 and 2009

Well, on the bright side, at least all of the lawsuits alleging Bank of America Corp. (BofA) misled investors in this instance will be consolidated into a single suit…

U.S. District Judge P. Kevin Castel yesterday ruled that investors suing BofA for making materially misleading statements about the 2008 takeover of Merrill Lynch & Co. will be given class action status. Judge Castel rejected BofA’s argument that the investors couldn’t prove that they suffered losses by relying on the bank’s statements or omissions.

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