Shareholders, Bank Of America Reach $335M Settlement In Securities Suit

Mealey's (November 3, 2015, 11:18 AM EST) -- WASHINGTON, D.C. — Shareholders and Bank of America Corp. (BoA) have agreed to a $335 million settlement in a securities class action lawsuit alleging that BoA and certain executive officers and directors issued misrepresentations in connection with the sale of mortgage-backed securities (MBS) in violation of federal securities laws, according to documents filed Oct. 30 with the Securities and Exchange Commission (Pennsylvania Public School Employees’ Retirement System v. Bank of America Corp., et al., No. 11-733, S.D. N.Y.).

According to an SEC Form 10-Q filed by...
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