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Bank of America to pay $2.43 billion to settle class action lawsuit

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Bank of America will pay $2.43 billion and institute some new corporate governance policies to settle a class action lawsuit. The investor plantiffs in the suit had claimed the bank made false or misleading statements about its own financial health as well as that of Merrill Lynch, which it acquired during the financial meltdown. Despite the settlement, Bank of America denies it did anything wrong.