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BofA Takes New Crisis-Era Hit
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Bank of America Corp settled a shareholder lawsuit that it misled investors about the acquisition of Merrill Lynch by agreeing to a payment of $2.43 billion. The five plaintiffs included the State Teachers Retirement System of Ohio and the Teacher Retirement System of Texas. The plaintiffs accused Bank of America under Ken Lewis of making false and misleading statements about losses relating to the acquisition and planned to seek $20 billion if the case went to trial on Oct. 22. The series of never ending lawsuits and settlements are hobbling the bank's effort to recover. Company figures show Bank of America setting aside $42 billion for litigation costs, payments and reserves.
Bank of America and Merrill Lynch in 2010-2012
01/17/2009
Grouped Articles
Pain of Thain Falls Mainly on Merrill
Wall Street Journal 06/06/2013
Bank of America to Pay $6.3 Billion To Settle Mortgage Securities Suit
New York Times 03/26/2014
BofA Deal With U.S. Is Hung Up Over Penalties Tied to Countrywide, Merrill
Wall Street Journal 07/29/2014
Merrill Bristles as BofA Toils On
Wall Street Journal 11/16/2011
Merrill Lynch to Pay $315 Million to Settle Mortgage-Loans Lawsuit
Wall Street Journal 12/07/2011
Bank of America Settlement in Lawsuit Is Challenged
New York Times 04/20/2012
Bank of America and the Merrill Deal
01/22/2009
Grouped Articles
Pain of Thain Falls Mainly on Merrill
Wall Street Journal 06/06/2013
BofA Deal With U.S. Is Hung Up Over Penalties Tied to Countrywide, Merrill
Wall Street Journal 07/29/2014
New York Attorney General Steps Up Probe Into BofA-Merrill Disclosures
Wall Street Journal 07/02/2011
Bank of America Shares Fall to Lowest Point in Two Years
New York Times 08/09/2011
Wall Street Journal 09/08/2011
Waiting for a New Blueprint From Bank of America
New York Times 09/07/2011
Countrywide and Bank of America legal settlements
01/05/2009
Grouped Articles
BofA's Blunder: $40 Billion-Plus
Wall Street Journal 06/29/2012
A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
Court Weighs Penalty in Bank of America 'Hustle' Case
Wall Street Journal 12/06/2013
Angelo Mozilo of Countrywide Settles Fraud Case for $67.5 Million
New York Times 10/15/2010
Banks Keep their Mortgage Litigation Reserves a Secret
New York Times 01/16/2014
Bank of America Swings to Loss on Legal Charge, Lower Mortgage Originations
Wall Street Journal 04/16/2014
The Bank of America-Merrill Lynch Deal, a disaster in the making.
09/15/2008
The disaster that the acquisition of Merrill is turning out to be for Kenneth Lewis and Bank of America.
Grouped Articles
Pain of Thain Falls Mainly on Merrill
Wall Street Journal 06/06/2013
Bank of America to Pay $6.3 Billion To Settle Mortgage Securities Suit
New York Times 03/26/2014
BofA Deal With U.S. Is Hung Up Over Penalties Tied to Countrywide, Merrill
Wall Street Journal 07/29/2014
Bank of America Mortgages Show Conflict and Trickery in Mortgages
New York Times 08/21/2014
Death and Near-Death Experiences on Wall St.
New York Times 09/21/2008
Thain's Swiftness Praised; Fuld's Hesitation Faulted
Wall Street Journal 09/16/2008
Bank of America and the lawsuit related to the Merrill Lynch acquisition
01/17/2009
Grouped Articles
Pain of Thain Falls Mainly on Merrill
Wall Street Journal 06/06/2013
Bank of America to Pay $6.3 Billion To Settle Mortgage Securities Suit
New York Times 03/26/2014
BofA Deal With U.S. Is Hung Up Over Penalties Tied to Countrywide, Merrill
Wall Street Journal 07/29/2014
A $50 Billion Claim of Havoc Looms for Bank of America
New York Times 09/28/2011
At Bank of America Merrill Lynch, Profits but No Joy
New York Times 10/01/2011
Bank of America Settlement in Lawsuit Is Challenged
New York Times 04/20/2012
Bank of America performance 2010-2014
01/05/2009
Grouped Articles
Bank of America Gets Down to Business
Wall Street Journal 07/17/2013
Strong Trading Revenue Boosts Bank of America's Profit
Wall Street Journal 07/18/2013
Bank of America's Profit Exceeds Estimates
New York Times 01/15/2014
Bank of America Profit Climbs, Helped by Cost-Cutting Progress
Wall Street Journal 01/17/2014
Bank of America's High-Class Problem
Wall Street Journal 01/17/2014
Bank of America Swings to Loss on Legal Charge, Lower Mortgage Originations
Wall Street Journal 04/16/2014
Legal bills of American Banks
01/05/2009
Legal bills and litigation losses of US Banks after the financial crisis of 2008.
Grouped Articles
Bank of America's Earnings Cup Springs a Leak
Wall Street Journal 04/17/2014
Bank of America to Pay $17 Billion in Justice Department Settlement
Wall Street Journal 08/21/2014
Bank of America's $17 Billion Settlement Less Painful than It Looks
New York Times 08/21/2014
Bank of America Mortgages Show Conflict and Trickery in Mortgages
New York Times 08/21/2014
Record Bank of America Settlement Latest in Government Crusade
Wall Street Journal 08/22/2014
Goldman: $3.4 Billion in Possible Litigation Losses
Wall Street Journal 03/01/2011
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