Home > General > Bank of America Settles for $150 Million.

Bank of America Settles for $150 Million.

United States District Court Judge Jed Rakoff signed off on a $150 million deal today that closes the fight with the Securities Exchange Commission for bonuses paid to Merrill Lynch employees.  This fine is an improvement on the previously discussed $33 million settlement, but still paltry in comparison to the $3.6 billion paid to Merrill employee’s in 2008.  For more information, please click  here.

Additionally, for more background information about the deal that originally cost Bank of America $50 billion for the acquisition of Merrill, but ultimately needed the support of the U.S. Government in order not to collapse, click  here

Advertisements
Categories: General
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: