BofA, Merrill Agree To Settle Shareholder Suits

Law360, New York (November 24, 2008, 12:00 AM EST) -- Bank of America Corp. disclosed Friday that it has entered into a memorandum of understanding to settle litigation aimed at preventing its $44 billion takeover of Merrill Lynch & Co.

In a filing with the U.S. Securities and Exchange Commission, Bank of America said it would settle one purported shareholder class action before the Delaware Court of Chancery and the merger-related claims in another shareholder class action before the U.S. District Court for the Southern District of New York.

As part of those settlements, which are...
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