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  • Bank of America Corp.'s (NYSE:BAC) Deal with Lehman Still not Final

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    Friday Dec 31, 2010 at 09:41 am EST
     
    Bank of America Corp.'s (NYSE:BAC) Deal with Lehman Still not Final
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    As reported by Bloomberg, A bankruptcy judge has amended his ruling asking that Bank of America Corp. to pay Lehman Brothers Holdings Inc. $590 million in compensation for taking its deposits, saying “the judgment is hereby deemed not to be a final judgment.”

    Bank of America Corp. appealed the November ruling by U.S. Bankruptcy Judge James Peck that it must return $500 million of deposits taken in violation of bankruptcy law and pay interest. Peck said yesterday in a filing in U.S. Bankruptcy Court in Manhattan that a final judgment will come later and the bank must delay its appeal until then.

    Shares of Bank of America Corp. (NYSE:BAC) closed at $13.28 on Thursday at resistance level of $13.24. Major support points for Bank of America Corp. (NYSE:BAC) below Monday's close are at $12.44, $11.91 and at $11.4. Resistance levels above yesterday's close are at $13.67, $14.01, $15.11 and $15.71.

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