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Monday, Apr 22, 2024

Bank of America’s settlement over bonuses delayed

Reporting from New York — Bank of America Corp.’s deal to pay $33 million to settle accusations that it misled shareholders about executive bonuses hit a roadblock Monday — U.S. District Judge Jed Rakoff. The bank agreed last week to pay the money to settle a Securities and Exchange Commission lawsuit alleging that it led shareholders to believe that Merrill Lynch & Co. would not pay year-end bonuses. For the full story click here

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