BofA to pay $150M to settle lawsuit against Merrill

08/25/2009 | Washington Post, The

A class-action lawsuit against Merrill Lynch claiming that the firm misled investors was settled, with Bank of America agreeing to pay $150 million. The plaintiffs, led by two Louisiana pension funds, said Merrill relied on false and misleading registration statements and prospectuses in connection with securities offerings between 2006 and 2008. Merrill later was acquired by Bank of America.

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