In re BankAmerica Corp Securities Litigation « Green Jacobson P.C.

In re BankAmerica Corp Securities Litigation

In 1998, NationsBank acquired the former BankAmerica in one of the largest bank mergers ever. Green Jacobson, then known as Green Schaaf & Jacobson, was Lead Counsel representing former NationsBank shareholders in a federal class action that claimed that NationsBank had overpaid in the merger because of the failure to disclose a massive hedge fund liability on the former BankAmerica’s books. At the same time our case was pending, however, the Milberg Weiss law firm — then the 800-pound gorilla of securities class actions — filed a state-court class action based on the same claims and started moving directly into settlement talks with the defendants without having taken any discovery. We obtained an injunction against the state-court case proceedings and attempted settlement. This injunction was affirmed by the United States Court of Appeals.

Key to our victory was convincing the courts of a new exception to the federal Anti-Injunction Act.

Our appellees’ brief made the case. Later, after taking more than 100 depositions, we led the settlement of the case for $490 million in cash — at that time, the third largest securities class action settlement in the United States (the largest in cash) and the largest settlement in any court in Missouri.

View All Sample Briefs

Contact Us

7733 Forsyth Boulevard
Suite 700
Clayton, Missouri 63105

Phone: (314) 862-6800
Fax: (314) 862-1606

Email: info@stlouislaw.com

Google Map — Get Directions

Please address attorney-hiring inquiries to Allen Press, hiring partner.
War Stories

Bring together any group of experienced trial lawyers and pretty soon they’re going to be sharing “war stories” about their experiences.
Sample Briefs

Here is a small selection of appellate briefs written by Green Jacobson lawyers.
Links