BofA Directors Finalize $20M Merrill Acquisition Settlement

Law360, Wilmington (June 20, 2012, 8:18 PM EDT) -- Several current and former Bank of America Corp. directors have finalized a $20 million settlement with shareholders in a derivative suit over the bank's 2008 acquisition of Merrill Lynch & Co., a New York federal judge said Wednesday.

After receiving notice of the definitive agreement, U.S. District Judge P. Kevin Castel issued an order giving the parties 14 days to file papers on the settlement, which would resolve claims faulting the bank’s board for overpaying in the $50 billion Merrill deal.

On April 12, the parties...
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