NEW YORK, Sept. 1, 2009 (GLOBE NEWSWIRE) --
UNITED STATES DISTRICT COURT
DISTRICT OF DELAWARE
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DONALD F. BENOIT
Plaintiff,
Against 1:07-CV-561-GMS
BRUCE L. HAMMONDS, et al.
Defendants,
and
BANK OF AMERICA CORPORATION,
AS SUCCESSOR IN INTEREST TO MBNA
CORP., and MBNA CORP.,
Nominal Defendants.
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LEMON BAY PARTNERS, and MALCOLM ROSENWALD
Plaintiff, 1:07-CV-562-GMS
Against
BRUCE L. HAMMONDS, et al.
Defendants,
and
BANK OF AMERICA CORPORATION,
AS SUCCESSOR IN INTEREST TO MBNA CORP.,
and MBNA CORP.,
Nominal Defendants.
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SUMMARY NOTICE OF PENDENCY OF DERIVATIVE ACTIONS,
PROPOSED SETTLEMENT AND SETTLEMENT HEARING
TO: CURRENT BANK OF AMERICA CORPORATION COMMON SHAREHOLDERS
YOU ARE HEREBY NOTIFIED that the Parties to the above-captioned actions (the "Derivative Actions") have entered into a Stipulation of Settlement of Derivative Actions (the "Stipulation") to resolve the issues raised in the Derivative Actions (the "Settlement").
YOU ARE HEREBY FURTHER NOTIFIED, pursuant to an Order of the United States District Court for the District of Delaware, dated August 13, 2009, that a hearing will be held before the Honorable Gregory M. Sleet, Chief United States Chief District Judge, at the J. Caleb Boggs Federal Building, 844 N. King Street, Courtroom 4A, Wilmington, DE 19801 at 9:30 a.m. on October 6, 2009, for the purposes of determining whether the proposed settlement of the Derivative Actions is fair, reasonable and adequate; whether a Final Judgment approving the proposed settlement should be entered; whether the application for attorneys' fees and reimbursement of expenses by Plaintiffs' Counsel is reasonable and should be approved; and whether Plaintiffs' request for an incentive award should be granted.
A detailed Notice of Pendency of Derivative Actions, Proposed Settlement of Derivative Actions, Settlement Hearing and Right to Appear, which describes the proposed Settlement in more detail, as well as a copy of the Stipulation of Settlement, may be obtained from the following website: mbnaderivativesettlement.com.
Inquiries may be made to:
Co-Lead Derivative Counsel in the Derivative Action: Laurence D. Paskowitz, Esq. Paskowitz & Associates 60 East 42nd Street, 46th Floor New York, NY 10165 (212)-685-0969 lpaskowitz@pasklaw.com
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE
By Order of the Court