Bank of America Corp. has agreed to pay $2.43 billion to settle alleged federal securities law violations in its acquisition of Merrill Lynch & Co. Inc. in 2009.
October 09, 2012 at 11:17 AM
1 minute read
Bank of America Corp. has agreed to pay $2.43 billion to settle alleged federal securities law violations in its acquisition of Merrill Lynch & Co. Inc. in 2009.
A group of state and foreign pension funds had accused Bank of America of making false statements about its health and the health of Merrill Lynch. The settlement, subject to approval by U.S. District Judge P. Kevin Castel of New York, was announced on Sept. 28.
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