Bank of America Secures Dismissal of Mortgage Fraud Suit

Skadden secured the dismissal of a lawsuit brought by a Florida investor against Bank of America Corp. alleging common law fraud, breach of fiduciary duty and negligent misrepresentation concerning its acquisition of Merrill Lynch. On December 11, U.S. District Judge P. Kevin Castel of the Southern District of New York sided with Skadden, finding that the investor had not properly opted out of a related class action.