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The SEC is reviewing whether BoA (BAC) broke the law by not telling shareholders about Merrill's...

The SEC is reviewing whether BoA (BAC) broke the law by not telling shareholders about Merrill's planned bonus payments. If the SEC finds BoA at fault, the bank would be subject to civil penalties. BoA says it had no obligation to share the info.
Comments (3)
  • dow2500
    , contributor
    Comments (7) | Send Message
     
    once a liar, always a liar.....

     

    does anyone remember the time when Ken Lewis admitted to not even "knowing" of such provisions??
    14 Apr 2009, 10:14 AM Reply Like
  • Anwar Bhamla
    , contributor
    Comments (96) | Send Message
     
    Somebody explain this to me. The shareholders get cheated by a bad deal made by management. The SEC investigates. Then it slaps civil penalties. The company, i.e. the shareholders then pay the fine!!??
    14 Apr 2009, 10:18 AM Reply Like
  • dow2500
    , contributor
    Comments (7) | Send Message
     
    haha or it could be argued that the taxpayers paid it too and maybe that is how the gov't is going to get a return from their poor investments
    14 Apr 2009, 10:25 AM Reply Like
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