Bank of America pays $2.43 billion in shareholder suit settlement

Case stems from BofA’s 2008 purchase of Merrill Lynch

Bank of America (BofA) is finally going to put its ongoing, multibillion-dollar lawsuit with some of its shareholders behind it—but it’s going to cost it.

Today, BofA announced it would settle a class action shareholder lawsuit to the tune of $2.43 billion. The plaintiffs in the suit are the bank’s shareholders, who claim during its acquisition of Merrill Lynch, BofA made false or misleading statements about the financial health of both companies.  


Cathleen Flahardy

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