The Securities and Exchange Commission announced Tuesday that it has filed new charges against Bank of America Corp. for failing to disclose extraordinary financial losses at Merrill Lynch prior to a shareholder vote approving the acquisition of Merrill.
The SEC experienced a slight hiccup in the process, as U.S. District Court Judge Jed Rakoff denied the agency its attempt Monday to add charges to the existing civil suit against the bank. Rakoff decided that the addition would confuse jurors, but he said the agency could file separate charges.
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