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Kenneth Lewis

B. Of A., Lewis To Settle Merrill Lynch Lawsuit

Bank of America Corp. and former chief executive Kenneth Lewis will together pay $25 million to settle a lawsuit alleging they had misled investors about mounting losses at Merrill Lynch & Co. before it was bought by the bank, The Wall Street Journal reported Wednesday. Bank of America will pay $15 million and bolster its board oversight as part of the agreement. Lewis will pay $10 million and is banned from working at any public company for three years, the newspaper said. Shares of Bank of America fell 0.6% in after-hours trading.Copyright © 2014 MarketWatch, Inc....

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