"(The bank) denies the allegations and is entering into this settlement to eliminate the...

|By:, SA News Editor

"(The bank) denies the allegations and is entering into this settlement to eliminate the uncertainties, burden and expense of further protracted litigation," says Bank of America (BAC) regarding its settlement of claims relating to the Merrill Lynch acquisition. "Resolving this litigation removes uncertainty and risk and is best in the interests of our shareholders," says CEO Moynihan. (PR)