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Federal Judge Approves Settlement Over SEC Charges

A federal judge has approved a $150 million settlement between the Securities and Exchange Commission and Bank of America over civil charges accusing the bank of misleading shareholders when it acquired Merrill Lynch. U.S. District Court Judge, Jed Rakoff, approved the agreement after the two sides agreed to make changes in their original agreement. The judge said his approval depended on the parties formally ratifying the amended agreement.

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