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8/4/09

US Financial Sector - Bank of America alledged to have made misleading statements on bonuses pays 33 million to settle dispute

EU-Digest

US Financial Sector: Bank of America alledged to have made misleading statements on bonuses pays 33 million to settle dispute

The US Securities and Exchange Commission said that the Bank of America has agreed to pay $33m to settle charges that it made misleading statements about bonuses when it took over Merrill Lynch. The SEC said however, that "the bank of America had neither admitted nor denied the allegations".

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