The Securities and Exchange Commission yesterday filed a new lawsuit against Bank of America Corporation alleging that the bank had kept its shareholders “in the dark” about changes in information they had received as they were called upon on to vote “at the end of a quarter of nearly unprecedented volatility and uncertainty” on a merger with Merrill Lynch & Co.
The filing of Securities and Exchange Commission v. Bank of America Corp., 10 CIV 0215, came a day after Southern District Judge Jed S. Rakoff denied the agency’s request to amend an already-filed lawsuit against the bank over its reported failure to disclose bonuses to Merrill Lynch executives. However, Judge Rakoff said that the SEC could bring a separate case.
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