SEC Again Defends $33M Deal Over Merrill Bonuses

By Erin Marie Daly

Law360, New York (September 09, 2009, 6:17 PM ET) -- The U.S. Securities and Exchange Commission on Wednesday lobbied a federal judge for the second time for approval of a $33 million settlement over disclosure of bonuses Bank of America Corp. paid to Merrill Lynch & Co. Inc., arguing that the deal takes full account of the seriousness of the violation and the need for deterrence.

The regulator urged Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York to sign off on the settlement, calling it “fair, reasonable, adequate...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles