Welcome to the AG Muni Bond Derivative Settlement Website
UPDATE:
The claim submission period is now closed, and the distribution of checks began on March 30, 2012 to Eligible Counterparties who submitted validly executed Election to Participate and Release forms.
A $62.5 million Settlement Fund ("the Fund") was established pursuant to an out-of-court settlement between Bank of America Corporation ("BAC") and 28 States Attorneys General to resolve matters more specifically explained in "An Agreement Among the Attorneys General of the States and Commonwealths of Alabama, California, Connecticut, Florida, Illinois, Kansas, Maryland, Massachusetts, Michigan, Missouri, Montana, Nevada, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Texas, Colorado, the District of Columbia, Idaho, Iowa, Tennessee, Utah, North Dakota and Wisconsin and Bank of America Corporation" (the "Settlement Agreement").
This settlement was reached following an investigation conducted by certain Attorneys General concerning alleged violations of state and federal antitrust and other laws by BAC and other providers, brokers and advisors, involving the marketing, sale and placement of Municipal Bond Derivatives. This Settlement is different from a class action settlement. First, the Settlement is pursuant to the sovereign authority of the 28 State Attorneys General who entered into the Settlement Agreement. Second, the Settlement is an out-of-court settlement and thus has not been subject to preliminary and final court approval proceedings, a fairness hearing or objections.
The Question and Answer Pamphlet contains a more detailed explanation of the civil actions pending in the Southern District of New York in the In re Municipal Derivatives Antitrust Litigation and the contact information for interim class counsel in that case as well as other information regarding the Settlement.
In order to receive a share of the $62.5 million Fund, an Eligible Counterparty must have completed and submitted both the (1) Election to Participate form and (2) the executed Release that was mailed to each Eligible Counterparty, and these forms must have been postmarked no later than the submission deadline.