BofA Ruling Puts M&A Lawyers On The Spot

Law360, New York (October 8, 2009, 5:26 PM EDT) -- Mergers and acquisitions attorneys could find themselves in an increasingly uncomfortable position when dealing with the sensitive issue of public disclosures, thanks to comments from a judge overseeing the U.S. Securities and Exchange Commission’s suit against Bank of America Corp. over alleged misrepresentations regarding Merrill Lynch & Co Inc. bonuses, legal experts say.

In denying the SEC’s bid to settle fraud allegations against the company for $33 million, New York federal district Judge Jed S. Rakoff criticized the agency for not targeting individuals who were involved...
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