NY AG Schneiderman may have to drop the state's case against Bank of America (BAC) over...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

NY AG Schneiderman may have to drop the state's case against Bank of America (BAC) over misleading investors during the Merrill Lynch acquisition after a judge last month approved a $2.43B class-action settlement for shareholders. "Once shareholders have made their peace, they can't take a 2nd bite of the apple through the AG," says a securities lawyer.