© 2024 New Hampshire Public Radio

Persons with disabilities who need assistance accessing NHPR's FCC public files, please contact us at publicfile@nhpr.org.
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations
Purchase your tickets for a chance to win $35k toward a new car or $25k in cash during NHPR's Summer Raffle!

Bank Of America To Pay $2.43 Billion In Settlement


NPR's business news begins with more fallout from the financial crisis.


INSKEEP: Bank of America said this morning, it will pay almost two and a half billion dollars to settle a lawsuit related to its purchase of investment bank Merrill Lynch in 2008. That was the height of the financial crisis and investors who owned Bank of America stock at the time brought the lawsuit. They claimed Bank of America officials made false statements about the health of both companies at the time of the merger. The bank denies the allegations, but in a statement, its CEO says he agreed to settle in order to remove the lingering uncertainty and focus on moving forward. Transcript provided by NPR, Copyright NPR.

You make NHPR possible.

NHPR is nonprofit and independent. We rely on readers like you to support the local, national, and international coverage on this website. Your support makes this news available to everyone.

Give today. A monthly donation of $5 makes a real difference.