$2.4B Settlement Over BofA-Merrill Deal Wins OK

Law360, New York (April 5, 2013, 8:21 PM EDT) -- A New York federal judge on Friday approved Bank of America Corp.’s landmark $2.4 billion settlement with investors over losses they suffered in the bank’s 2008 acquisition of Merrill Lynch & Co.

The group of institutional investors who brought lawsuit accused the bank of lying about the risks of the Merrill deal, a charge it denies. The settlement is the fourth-largest in a U.S. securities suit, according to U.S. District Judge Kevin Castel.

“I find that the settlement was fair, reasonable and adequate, and it is approved”...
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