Bank of America (BAC) agrees to pay $2.43B to settle a class action lawsuit alleging the bank...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Bank of America (BAC) agrees to pay $2.43B to settle a class action lawsuit alleging the bank and certain officers made misleading statements surrounding the Merrill Lynch purchase. The settlement, along with DVA adjustments and a U.K. tax charge, are expected to negatively impact Q3 EPS by $0.28. Shares -0.8% premarket. (PR)