SEC Readies For BofA Trial After $33M Deal Scuttled

Law360, New York (September 22, 2009, 1:41 PM EDT) -- On the heels of a judge’s rejection of a $33 million settlement, the U.S. Securities and Exchange Commission has said it will consider pursuing additional claims in its suit accusing Bank of America Corp. of lying to shareholders about bonuses authorized for Merrill Lynch & Co. Inc. executives as part of the companies' merger.

In a statement Monday, the SEC said that it would vigorously pursue its case and that it still believes that BofA violated federal securities laws. The regulator also filed a proposed case...
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