Bank of America settles Epstein survivors' lawsuit
Change
Bank of America reached a settlement in principle with a class of women alleging it facilitated Jeffrey Epstein's sexual abuse, and the deal requires US District Judge Jed Rakoff's approval at a 2 April hearing.
Why it matters
If the court approves the deal, scheduled discovery and the planned trial will be suspended, blocking a 26 March deposition of Leon Black and the 11 May trial from moving forward. Parties must now seek judicial approval of the settlement rather than continue with those imminent litigation steps.
Implications
- — Bank of America's outside and in-house litigation counsel must file the settlement papers with US District Judge Jed Rakoff by 27 March — failure to file will prevent the court from holding the scheduled 2 April approval hearing.
- — Lead plaintiffs' counsel representing Epstein survivors must submit supporting documentation required for classwide approval by 27 March — failure to provide it will leave the settlement unapproved at the 2 April hearing.
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Source
The Guardian
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