Here?s an irony you don?t see every day. In private litigation where public employee retirement systems are the lead plaintiffs, Bank of America is being sued for materially omitting, prior to BofA?s $50 billion purchase of Merrill Lynch, just how vast losses at Merrill had become. Had shareholders not been kept in the dark, the ...
Shares of Himax Technologies (HIMX) have taken traders and investors on a roller coaster ride the past few trading days. Shares were originally down heavily in trading on Tuesday March 25, before slightly recovering in early trading earlier today. Analysts are the sole reason behind the recent swings in shares of Himax.
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By Rougemont: Bank of America (BAC) made the decision to buy Countrywide and Merrill Lynch about two years ago. The Countrywide purchase opened a can of worms for Bank of America that it still can't shake off. It is clear that the former CEO Ken Lewis vastly underestimated the problems in the Countrywide portfolio and the extent of the real estate downturn.
NEW YORK (Reuters) - A Manhattan federal judge refused to dismiss shareholder lawsuits against Bank of America Corp and various executives and directors over the purchase of Merrill Lynch & Co during the 2008 financial crisis and disclosures about Merrill's losses and bonus payouts.
BofA agrees to pay $33 million to settle the complaint that it secretly allowed Merrill to distribute $5.8 billion in bonuses, even though it indicated otherwise to shareholders.
Bank of America agreed to pay $33 million to settle a Securities and Exchange Commission lawsuit accusing it of misleading investors about $5.8 billion in bonus payments connected to its controversial purchase of Merrill Lynch & Co.