The Securities and Exchange Commission is broadening its inquiry into the merger of Bank of America Corp. and Merrill Lynch & Co. Inc. Specifically, the SEC will go beyond the issues of Merrill’s bonus pool, to look into Merrill’s accelerating pre-merger losses and Bank of America’s threat to use an escape clause to cancel the merger.
This latest development came after Bank of America’s board of directors decided to waive attorney-client privilege of internal discussions during the merger, after facing demands to do so from both the SEC and the office of New York Attorney General Andrew Cuomo.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]