BofA to Pay $62.5 Million to Settle Shareholders Claims over Merrill Lynch Acquisition

, The Litigation Daily

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Bank of America's directors have agreed to pay $62.5 million to resolve shareholder claims that they botched the company's 2008 acquisition of Merrill Lynch. BofA previously negotiated a deal to settle the claims for $20 million, but the U.S. district court judge hearing the case pushed the parties to renegotiate.

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