Getting your player ready...
WASHINGTON — The government said Monday it has decided to go to trial against Bank of America Corp. a week after a judge’s stinging rejection of its proposed $33 million civil settlement with the bank involving bonuses at Merrill Lynch.
The Securities and Exchange Commission said it will “vigorously pursue” its case against one of the biggest U.S. banks, which acquired Merrill in a hastily arranged deal. The agency had accused Bank of America of failing to disclose to shareholders that it had authorized Merrill to pay up to $5.8 billion in bonuses.
