The Securities and Exchange Commission filed a new lawsuit Tuesday against Bank of America Corp., claiming the bank failed to disclose billions of dollars in rising losses at Merrill Lynch & Co. Inc. before shareholders voted on a merger in December of 2008.
The new suit will be heard by U.S. District Court Judge Jed Rakoff in Manhattan, who is also handling an earlier SEC suit accusing the bank of misleading shareholders about billions of dollars in Merrill bonuses.
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