In a blog post last week I questioned the fairness of the $33 million settlement Bank of America had agreed to with the SEC for concealing information related to its merger with Merrill Lynch.  Now U.S. District Court Judge Jed Rakoff has put that settlement on hold, saying he is not convinced the settlement…
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Here’s the story: The Securities and Exchange Commission (SEC) accused Bank of America of concealing information from investors regarding bonuses paid to Merrill Lynch execs prior to the Bank’s take-over of Merrill.  Bank of America has settled the issue by paying $33 million to the federal government, without admitting any wrongdoing.  SEC officials say…
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