Allstate Corp. (ALL) agreed to end a 2011 lawsuit against Bank
of America Corp.'s (BAC) Merrill Lynch unit concerning
mortgage-backed securities, Bloomberg News reported Wednesday,
citing a New York court filing.
Allstate had claimed Merrill Lynch sold Allstate securities that
were riskier than promised, Bloomberg reported.
Settlement terms weren't disclosed, according to the report.
Allstate also settled a 2010 case it filed against Bank of
America's Countrywide unit over mortgage-backed securities,
Bloomberg reported, citing a Los Angeles court filing.
Full story at
http://www.bloomberg.com/news/2014-04-09/allstate-merrill-lynch-to-end-167-million-mortgage-suit.html
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