Mealey's Securities/D&O Liability - Bank Of America, Former CEO To Pay $25M Over Merrill Nondisclosures

NEW YORK - Bank of America Corp. and its former CEO have agreed to pay $25 million to settle claims that they and others misrepresented the financial state of Merrill Lynch & Co. Inc. before merging with the financial giant in violation of New York state law, according to a press release issued March 26 by New York State Attorney General Eric T. Schneiderman (The People of the State of New York by Eric T. Schneiderman, Attorney General of the State of New York, v. Bank of America Corp., et al., No. 450115/2010, N.Y. Sup., New York Co.).

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