Monday, August 03, 2009
Zachary A. Goldfarb, Washington Post
Zachary A. Goldfarb, Washington Post
Bank of America Pays $33 Million to Settle Bonus Charges
Bank of America agreed to pay $33 million on Monday to settle federal charges that it hid from investors plans to pay billions of dollars in bonuses to employees of Merrill Lynch, the troubled investment bank it agreed to buy last fall.
The Securities and Exchange Commission accused the firm of misleading shareholders when the bank asked them to approve the deal, which was ultimately concluded under intense federal pressure as Merrill Lynch teetered on the verge of collapse.
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Posted by Editor on 08/03/09 at 06:59 AM •
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