Judge Wants More Answers On Merrill Bonuses Deal

Law360, New York (August 26, 2009, 2:31 PM EDT) -- After reviewing briefs from Bank of America Corp. and the U.S. Securities and Exchange Commission defending a $33 million settlement over disclosure of bonuses paid to Merrill Lynch & Co., a federal judge has asked for more details about who's really to blame, and why the SEC took the deal.

Judge Jed S. Rakoff said in order filed Tuesday in the U.S. District Court for the Southern District of New York that the SEC's explanation of its settlement with Bank of America was “puzzling.” He called...
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