Summary
This Form 8-K filing from Bank of America Corporation (BAC) on October 14, 2004, reports on a significant development in the ongoing litigation, _Paul J. Miller v. Bank of America, N.A._ Following a February 2004 jury verdict, the trial court has issued a tentative ruling on claims decided by the court. Notably, the court has ruled against Bank of America, N.A. (a subsidiary) on two claims, potentially awarding the plaintiff class $284 million in restitution, plus interest and attorneys' fees.
Key Highlights
- 1Trial court issued a tentative ruling on two claims in the _Paul J. Miller v. Bank of America, N.A._ case.
- 2The ruling is largely against Bank of America, N.A., a subsidiary of the registrant.
- 3The tentative ruling proposes restitution to the plaintiff class totaling $284 million, plus interest and attorneys' fees.
- 4An additional $1,000 penalty per class member is tentatively awarded for substantial emotional or economic harm, though applicability is unclear.
- 5Injunctive relief is also included in the tentative decision.
- 6A hearing is scheduled for November 30, 2004, to address objections to the tentative ruling.
- 7Bank of America intends to appeal any adverse final judgment and seek a stay of any injunction pending appeal.