Defendant Name:
Bank of America Corporation
Defendant Type:
Public Company
SIC Code:
6021
CUSIP:
06050510
Initial Case Details
Legal Case Name
SEC v. Bank of America Corporation
First Document Date
03-Aug-2009
Initial Filing Format
Civil Proceeding
Case Number
09-cv-06829
Allegation Type
Other
Federal District Court
New York, Southern District of New York
Resolutions
First Resolution Date
03-Aug-2009
Headline Total Penalty and Disgorgement
$33,000,000
Related Documents:
Complaint
The SEC stated: "The Commission charges Bank of America with making materially false and misleading statements in the joint proxy statement that it filed with Merrill Lynch & Co, Inc. ("Merrill") in connection with Bank of America's $50billion acquisition of Merrill on January 1, 2009."
SEC Charges Bank of America for Failing to Disclose Merrill Lynch Bonus Payments
The SEC stated: "The Securities and Exchange Commission today charged Bank of America Corporation for misleading investors about billions of dollars in bonuses that were being paid to Merrill Lynch & Co. executives at the time of its $50 billion acquisition of the firm."
2009-177
03-Aug-2009
Press Release--Civil Action
SEC Charges Bank of America for Failing to Disclose Merrill Lynch Bonus Payments
The SEC stated: "The Securities and Exchange Commission today charged Bank of America Corporation for misleading investors about billions of dollars in bonuses that were being paid to Merrill Lynch & Co. executives at the time of its acquisition of the firm."
Amended Complaint
The SEC stated: "The Commission charges Bank of America with making materially false and misleading statements, and omitting material information, in the joint proxy statement that it filed with Men-ill Lynch & Co, Inc. ("Men-ill") in connection with Bank of America's $50 billion acquisition of Merrill on January 1, 2009."
Complaint
On January 11, 2010, the SEC filed a second amended complaint against Bank of America Corporation. The SEC charged Bank of America Corporation: "with making materially false and misleading statements, and with omitting material information, in the joint proxy statement that it filed with Merrill Lynch & Co, Inc. ('Merrill') in connection with Bank of America's acquisition of Merrill on January 1, 2009."
SEC Authorizes Charges Against Bank of America for Failure to Disclose Extraordinary Losses at Merrill Lynch Prior to Shareholder Vote to Approve Merger
On January 11, 2010, the SEC issued a litigation release announcing that it "seeks to charge Bank of America with failing to disclose extraordinary financial losses at Merrill Lynch prior to a shareholder vote to approve a merger between the two companies. The SEC has asked the U.S. District Court for the Southern District of New York for permission to amend its pending complaint against Bank of America to include the new charges. The agency earlier charged the bank with misleading investors about billions of dollars in bonuses that were being paid to Merrill executives."
Bank of America Agrees to Pay $150 Million to Settle SEC Charges
On February 4, 2010, the SEC issued a litigation release announcing that Bank of America agreed to pay $150 million to settle two SEC charges.
Final Consent Judgment as to Defendant Bank of America Corporation
On February 24, 2010, Federal District Judge entered final judgment against Bank of America Corporation pursuant to Bank of America Corporation's consent.
