SEC Loses Bid To Add Loss Claims To BofA Suit

Law360, New York (January 11, 2010, 7:51 PM EST) -- A judge has denied the U.S. Securities and Exchange Commission’s bid to add claims regarding Merrill Lynch & Co.’s multibillion dollar losses to a lawsuit over alleged misrepresentations to shareholders during Bank of America NA’s takeover of the firm, concerned the new allegations could confuse jurors.

Judge Jed S. Rakoff denied the SEC’s request for leave to submit a second amended complaint in a hearing Monday evening in the U.S. District Court for the Southern District of New York, adding that he would not be opposed...
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