SEC Tweaks Suit Against BofA Over Merrill Bonuses

Law360, New York (October 23, 2009, 5:08 PM EDT) -- Securities regulators have filed an amended complaint in their closely watched lawsuit against Bank of America NA, accusing the bank of omitting information about billions of dollars in bonuses paid to Merrill Lynch & Co. Inc. executives in a proxy statement filed prior to the financial giants' fall 2008 shotgun merger.

The U.S. Securities and Exchange Commission's amended lawsuit, filed Oct. 19 in the U.S. District Court for the Southern District of New York, adds a new claim — that the defendants violated full disclosure requirements...
To view the full article, register now.