Study Aids
Case Briefs Overview
Casebooks
Case Briefs
I

In re BankAmerica Corp. Securities Litigation

350 F.3d 747 (2003)

From our private database of 46,500+ case briefs, written and edited by humans—never with AI.

In re BankAmerica Corp. Securities Litigation

United States Court of Appeals for the Eighth Circuit
350 F.3d 747 (2003)

Facts

NationsBank merged with BankAmerica to form Bank of America. NationsBank investors and BankAmerica investors (plaintiffs) filed securities-fraud class actions against Bank of America (defendant) to recoup losses allegedly resulting from misrepresentations about the merger. The class actions were consolidated. A seven-member group was appointed to serve as lead plaintiffs for the class of NationsBank investors. A six-member group was appointed to serve as lead plaintiffs for the class of BankAmerica investors. A global settlement was reached at a mediation and submitted to the district court for approval. The district court presided over the complex class actions and was fully familiar with the strengths and weaknesses of the claims. Three members of the lead plaintiff group for the class of NationsBank investors (objecting members) opposed the proposed settlement, arguing that the proposed settlement was too low and that the lawyers involved in the mediation were not authorized to settle. Following a hearing, the district court approved the settlement as fair and reasonable and noted that the objecting members had unrealistic expectations about the settlement value of the class actions. The objecting members appealed.

Rule of Law

Issue

Holding and Reasoning (Melloy, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 832,000 law students since 2011. Some law schools even subscribe directly to Quimbee for all their law students.

    Unlock this case briefRead our student testimonials

  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.

    Learn about our approachRead more about Quimbee

Here's why 832,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 46,500 briefs, keyed to 994 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 832,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 46,500 briefs - keyed to 994 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership

Casebooks

Securities Regulation

Key Terms