Bank of America Lawsuit

Bank of America Settles Class Action Lawsuit

Bank of America (BAC, quote) announced it has agreed to settle a class action lawsuit over its acquisition of Merrill Lynch in a settlement much larger than excepted of $.2.43 billion.  The lawsuit was on the behalf of Bank of American stock holders when Bank of America announced plans to buy Merrill Lynch during the fall out of the financial crisis in the fall of 2008.