After Bank of America (BofA) acquired Merrill Lynch, an investment bank nearing collapse during the global financial crisis, it emerged that BofA failed to disclose that $5.8 billion had been earmarked for Merrill’s employee bonuses. BofA later agreed to a $33 million settlement. Now, US federal judge Jed Rakoff, responsible for approving the settlement, questioned if justice was being served when BofA shareholders, the victims of the misrepresentation, would have to pay the penalty. Should he approve the settlement?