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Class plaintiffs reach $20 million settlement with Bank of America in municipal derivatives litigation

( December 4, 2013, 23:31 GMT | Official Statement) -- MLex Summary: Plaintiffs the City of Baltimore, MD, the Central Bucks School District, and the Bucks County Water & Sewer Authority, on behalf of the putative class of direct purchasers, have entered into a settlement agreement with Bank of America whereby Bank of America has agreed to pay $20 million, or with a potential opt-out reduction, $19.25 million, plus any funds remaining in the State AG Escrow Fund. Additionally, Bank of America has agreed to provide reasonable cooperation, including discovery cooperation, to class plaintiffs.See the settlement in full below....

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