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USDJ Rakoff Rejects SEC-BofA Settlement.

By Mark H. Astarita, Esq.

Judge Rakoff wants the explanation behind why a Bank of America proxy statement last November misled investors about bonuses for employees at Merrill Lynch, which was about to be acquired by the bank. On Tuesday, he stated another desire: to get the SEC to better explain why had agreed to a settlement without pressing the bank?s executives harder. The judge is also questioning how anyone can

Full post as published by SECLaw.com on August 26, 2009 (boomark / email).

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