SSA Bonds Class Action – November 28, 2019
November 28, 2019
Settlements have been achieved with the following defendants, totaling approximately $2.1 million:
Bank of America Corporation, Bank of America, N.A., Bank of America Canada, Bank of America, National Association, Bank of America Merrill Lynch International Limited, Merrill Lynch International, Merrill Lynch, Pierce, Fenner & Smith Inc., Merrill Lynch Canada Inc., Merrill Lynch International Services Limited, Merrill Lynch Financial Assets Inc., Merrill Lynch Benefits Ltd. (collectively “Bank of America”) (CDN$750,000.00)
HSBC Holdings PLC, HSBC Bank USA, N.A., HSBC Securities (USA) Inc., HSBC Bank PLC, HSBC North America Holdings Inc., HSBC Bank Canada and HSBC USA, Inc. (collectively “HSBC”) (CDN$1,323,529.41)
A motion to approve the Bank of America and HSBC Settlements will be heard by the Federal Court of Canada on February 5, 2020.
Settlement Class Members have an opportunity to opt out of (exclude themselves from) the class action. Please review the Notice of Settlement Approval Hearing here for more information.
The settlement funds (plus interest, less court-approved fees and expenses) are being held in trust for the benefit of settlement class members. At a later date, the courts will be asked to approve a method of distributing the settlement funds to settlement class members.