While denying it did anything wrong, it will pay "$2.43 billion and institute certain corporate governance policies ... to settle a class action lawsuit brought in 2009 on behalf of investors who purchased or held Bank of America securities at the time the company announced plans to acquire Merrill Lynch."
that "plaintiffs had alleged, among other claims, that Bank of America and certain of its officers made false or misleading statements about the financial health of Bank of America and Merrill Lynch."
In 2009, Ohio Public Radio's Jo Ingles . Back then, Ohio State University law professor Paul Rose predicted that BofA would eventually settle. "You'll see a settlement often coupled with some sort of corporate governance change or something that they feel is really important," he said.
In , BofA said it had net income of $2.5 billion in second-quarter 2012. But a year ago, as NPR's Chris Arnold reported, it was struggling to restore investors "lost faith": " ."
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