The cash settlement was finally approved after preliminary approval was granted this past summer. PennPSERS was the lead plaintiff on behalf of investors that took losses upon purchasing shares of Bank of America Corp. between Feb. 27, 2009, and Oct. 19, 2010, during which time investors were said to have been misled about the company’s “exposure to demands to repurchase interests in mortgage-backed securities and other mortgage loans that had been sold by the company and its legacy entities,” according to the article. 

Read the full article from Pension & Investments.