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Judge Says S.F. Can't Sue B of A Separately

April 24, 1998|Associated Press

San Francisco cannot separate its claim from a state lawsuit accusing BankAmerica Corp. of mishandling hundreds of municipal bond accounts throughout California, a judge said. San Francisco County Superior Court Judge James Robertson denied the request Tuesday, though he said the city could refile. San Francisco has been trying to take its claims directly to trial in January to decide the bank's liability. The state attorney general and the bank, which denies the charges, have agreed to a three-part trial, which is set to begin Monday and stretch into next year. About 300 municipalities are taking part in the suit as plaintiffs. The suit, based on allegations by former bank executive Patrick Stull, says the San Francisco-based bank did not return millions of dollars in unclaimed bond interest and principal to government entities, then covered it up by destroying documents and creating new records.

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