Feb 4th, 2010 · New York state filed civil charges against Bank of America and former CEO Ken Lewis, alleging the bank misled investors about Merrill Lynch before it bought the Wall Street bank in early 2009. A spokesman for the bank said the charges lacked merit.
Feb 4th, 2010 · Kenneth D. Lewis, former Bank of America chief executive, was sued Thursday for fraud by New York Attorney General Andrew Cuomo who charged bank officials with knowingly keeping shareholders in the dark about huge losses at Merrill Lynch in order to smooth the way for the bank's acquisition of the large stock broker.
Dec 11th, 2009 · The Securities and Exchange Commission has expanded its probe of Bank of America to include the bank's possible failure to disclose mounting losses at Merrill Lynch, an agency official said. The SEC has been pursuing civil charges that Bank of America failed to disclose bonuses to Merrill employees.
Dec 8th, 2009 · Bank of America bought investment bank Merrill Lynch at the depths of the financial crisis. Executives had planned a rebranding campaign that would have eliminated Merrill Lynch's iconic bull logo. The Wall Street Journal reports that lobbying by top Merrill Lynch executives has prompted the bank to reverse course. Bankers may now print the bull on flip side of their business cards.
Dec 2nd, 2009 · In a move that will help it recruit a new CEO, the bank said Wednesday it plans to repay the government funds in the next few days. It said it would use available cash and raise $18.8 billion in capital to repay the money, which it received during the height of the credit crisis last year and after its purchase of Merrill Lynch earlier this year.
Oct 13th, 2009 · Bank of America Corp. plans to turn over documents revealing legal advice it received on its purchase of Merrill Lynch. The bank will waive attorney-client privilege that kept it from telling regulators about recommendations it received from outside attorneys over whether to disclose details to shareholders about Merrill's mounting troubles.
Oct 12th, 2009 · Ohio's attorney general is suing Bank of America on behalf of shareholders in some of the state's pension plans. He says the bank misled shareholders during its acquisition of Merrill Lynch, a move that cost the pension plans tens of millions of dollars. Business experts are watching this lawsuit carefully because, if the state wins, it could open the floodgates for other shareholders to file similar litigation.
Oct 1st, 2009 · Bank of America says its embattled Chief Executive Ken Lewis will step down at the end of the year. Lewis is one of the most powerful and influential figures in the banking business. But he has spent the past year taking heat for his bank's controversial acquisition of Merrill Lynch.