BOA Directors Reach $62.5M Settlement For Merrill Lynch Acquisition

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Bank of America directors have reached a $62.5 million settlement with investors over the company's acquisition of Merrill Lynch, according to a Reuters article citing a source familiar with the situation.

"We support the terms of the settlement, and are gratified that the matter has been resolved," Bank of America said in a statement.

The original size of the settlement was slated at $20 million.

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