Kucinich Demands SEC Probe Into Merrill Bonuses

Law360, New York (April 6, 2009, 12:00 AM EDT) -- Rep. Dennis Kucinich, D-Ohio, called Monday for a U.S. Securities and Exchange Commission inquiry into $3.62 billion in bonus payments for Merrill Lynch & Co. Inc. executives, questioning whether Bank of America Corp. officials withheld from shareholders information about the payouts to bolster support for the bank's acquisition of Merrill.

Kucinich sent a letter to SEC Chairwoman Mary Schapiro, requesting a formal investigation into whether Bank of America violated the Securities Act of 1934 by failing to disclose to the Merrill bonus information before shareholders voted...
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