SEC logs new complaint in Merrill bonus case
WASHINGTON, DC – The US Securities and Exchange Commission (SEC) has filed an updated complaint in its court case against Bank of America (BofA) for misleading its shareholders over the Merrill Lynch 2008 bonuses pool. The latest complaint alleges BofA neglected to disclose Merrill’s “extraordinary losses” to investors before they voted on the banks’ merger on December 5, 2008. Regulatory frustration over bonuses has combined with BofA shareholder anger concerning the takeover of Merrill, to
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