This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Chimicles & Tikellis LLP Announces Court Approval Of $62.5 Million Settlement Of Bank Of America Derivative Litigation

...during the course of this week we have been engaged in negotiations in particular with the Delaware objectors, no longer objectors.

The settlement which resulted, and that resulted, obviously, from the participation of Delaware... is now substantially larger, greater than three times what we originally thought was an appropriate settlement.

Counsel for Bank of America added:

We commend all of the parties for how hard they worked in the past week.  And, in particular, counsel for the Delaware objectors who, in our view, in many respects, are principally responsible for the increase in the cash component of the settlement.

After four years of vigorous litigation seeking damages on behalf of Bank of America, Chimicles & Tikellis is pleased that the revised settlement delivers substantial value to Bank of America representing a more than three-fold increase over the original settlement, bringing the litigation to a successful conclusion for Bank of America and its stockholders.

CONTACT INFORMATION: Pamela S. Tikellis Robert J. Kriner, Jr. Scott M. Tucker CHIMICLES & TIKELLIS LLP 222 Delaware Avenue, Suite 1100 P.O. Box 1035 Wilmington, DE 19899 Telephone: (302) 656-2500 Fax: (302) 656-9053 Website:  www.chimicles.com

For over twenty-five years, Chimicles & Tikellis LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered billions of dollars for its clients.  The firm is nationally recognized, and its litigators hold many professional honors and distinctions.  Chimicles & Tikellis LLP, 222 Delaware Avenue, P.O. Box 1035, Wilmington, DE 19899 (302) 656-2500.

SOURCE Chimicles & Tikellis LLP

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs