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SEC and BofA Try to Convince Judge to Approve Settlement

By Mark H. Astarita, Esq.

Bank of America Corp (BAC.N) and the top U.S. securities regulator sought to persuade a judge to approve their $33 million settlement of a civil lawsuit over the lack of disclosure of billions of dollars of bonuses at Merrill Lynch & Co. The SEC says that BofA misled shareholders by not telling them that it was going to pay Merrill employeees $3.6 billion dollars in bonuses, Bank of America

Full post as published by SECLaw.com on August 24, 2009 (boomark / email).

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