BofA settles suits over Merrill Lynch acquisition for $62.5M

01/14/2013 | Bloomberg

A U.S. district judge has approved a Bank of America payment of $62.5 million to settle shareholder claims that the board allowed executives to pay too much when acquiring Merrill Lynch in 2009. The approval allows the judge to move on to a much larger settlement -- a securities fraud case for $2.4 billion brought by other investors.

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