Law360, New York (October 1, 2015, 2:25 PM EDT) -- Three Bank of America units can fend off negligence claims over bad tax advice the bank and Buchanan Ingersoll & Rooney PC allegedly gave on a $219 million Virgin Islands bond offering, but two BofA affiliates must face related claims, a federal judge in the territory ruled Thursday.U.S. District Judge Curtis V. Gomez said in a brief order that Bank of America Corp., Banc of America Securities LLC and Merrill Lynch Pierce Fenner & Smith Inc. have met their burden to dismiss the U.S. Virgin Islands Public Finance Authority’s negligence claim over the bond offering. The judge also released BAC... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
US Judge Curtis V. Gomez has ruled that three units of Bank of America have met their burden over bad tax advice that the bank and Buchanan Ingersoll & Rooney PC allegedly gave on a $219m Virgin Islands bond offering, thereby allowing them to avoid the suit. H﻿owever, two other units must still face the claims.