BofA To Pay $20M To Exit Muni Bond Bid-Rigging MDL

Law360, Los Angeles (December 4, 2013, 10:12 PM EST) -- Bank of America Corp. agreed Wednesday to pay $20 million to settle part of a multidistrict litigation accusing it and other financial institutions of bid-rigging in the municipal bond derivatives market.

Plaintiffs in the case, including by the city of Baltimore, filed a motion in New York federal court seeking approval of the deal, which includes a $20 million cash payment and any remaining money from a prior, related settlement with state attorneys general.

By accepting the settlement, the plaintiffs will drop claims that Bank of...
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