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September 3, 2003 | From Bloomberg News
Two Bank of America Corp. units won a $43-million reduction in a July jury verdict, as a Texas state judge ordered them to pay $8.2 million to a debt-collection company for breaching an agreement to sell a debt portfolio. A Dallas jury had ordered EquiCredit Corp. of America and SunStar Acceptance Corp. to pay New York-based Cavalry Investments $51.3 million, including $25 million in punitive damages.
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BUSINESS
September 3, 2003 | From Bloomberg News
Two Bank of America Corp. units won a $43-million reduction in a July jury verdict, as a Texas state judge ordered them to pay $8.2 million to a debt-collection company for breaching an agreement to sell a debt portfolio. A Dallas jury had ordered EquiCredit Corp. of America and SunStar Acceptance Corp. to pay New York-based Cavalry Investments $51.3 million, including $25 million in punitive damages.
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