Merrill Lynch Reportedly Settles Suit for $315 Million

A Reuters source says that Bank of America’s wealth management division has agreed to pay $315 million in a class-action suit representing investors in eighteen mortgage-backed securities trusts. That price tag would make Merrill Lynch’s agreement the biggest public settlement for investors in a securities settlement (out of only four known), and the first securities case that Bank of American has agreed to settle.

Merrill Lynch Settles Suit for $315 Million