Bank of America to Pay $2.43 Billion to Settle Suit Over Merrill Deal

Quicklink submitted by Sheila Samples     Permalink
Related Topic(s): ; ; ; ; ; , Add Tags

View Ratings | Rate It

Become a Fan
  (36 fans)


At dealbook.nytimes.com

Seeking to unload one of its heaviest burdens from the financial crisis, Bank of America announced on Friday that it would pay $2.43 billion to settle litigation that had accused the bank of deceiving investors in the acquisition of Merrill Lynch. The legal woes from that deal and the bank's acquisition of the mortgage lender Countrywide Financial earlier in the financial crisis have dogged Bank of America as it tries to turn itself around.

Read the rest of the story HERE:

At dealbook.nytimes.com


 

Comments

The time limit for entering new comments on this Quicklink has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
1 people are discussing this page, with 1 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

Correction:  the people of the US to pay $2.3... by Sister Begonia on Saturday, Sep 29, 2012 at 2:47:41 PM