April 14, 2009

Did BofA tell shareholders enough about Merrill bonuses?

SEC chairwoman Mary Schapiro told Rep. Dennis Kucinich in a letter that the agency is "carefully reviewing" what Bank of America knew about bonuses at the time shareholders approved the Merrill-Lynch merger. But it's not clear that the SEC believes Bank of America should have told shareholders more about about the bonuses before shareholders voted on the merger.

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