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Former Barnett exec's case against Bank of America could pave way for more claims.
ORLANDO -- A 2-year-old lawsuit SunTrust Bank President Tom Yochum brought against Bank of America (BOA) in Jacksonville federal court appears to have found new life.
A recently filed motion for reconsideration of a summary judgment in the case follows a flurry of orders in a similar Orlando federal court case brought by another former Barnett Bank executive.
If Yochum ultimately wins his case, it could pave the way for hundreds of other former Barnett Bank executives to claim more than $100 million in damages from BOA for allegedly forcing them to take compensation cuts, primarily in the form of the loss of stock options and elimination of executive retirement benefits at the time of the Barnett-NationsBank merger in early 1998.
At the heart of the lawsuits is whether Bank of America owes the former Barnett Bank executives retirement plan and stock compensation under their …