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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: Jed Rakoff

Jed Rakoff stories: 3 news summaries

Court Overturns Merrill-BofA Settlement With SEC

Bank's $33M fine doesn't do 'justice' to shareholders, public: judge

Sep 14, 09 2:47 PM CDT
(Newser) - A federal judge today scrapped the $33 million settlement Bank of America and the SEC agreed on as punishment for the bank's not informing shareholders of bonuses paid to Merrill Lynch executives just before the bank bought Merrill, the New York Times reports. Saying BofA "materially lied, " Jed... More »

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Bank of America • Merrill Lynch • SEC • bonuses • settlement • hearings • regulator • Securities and Exchange Commission • Jed Rakoff

(Newser) - The judge who has refused to sign off on Bank of America's settlement with the SEC over $3.6 billion in bonuses paid to Merrill Lynch delivered a stinging rebuke to both parties in a hearing yesterday, the New York Times reports. The firms "effectively lied to their shareholders"... More »

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executive compensation • Bank of America • federal courts • Merrill Lynch • SEC • bonuses • John Thain • executive bonuses • Jed Rakoff

Judge Balks at BofA Bonus Settlement

$33M deal with SEC raises questions of fairness; hearing set

Aug 6, 09 5:00 AM CDT
(Newser) - Bank of America won't be able to quietly settle the flap over bonuses for Merrill Lynch execs with a simple $33 million payout to the SEC, a federal judge ruled yesterday. Judge Jed Rakoff refused to sign off on the settlement, saying that doing so would leave the public in... More »

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Bank of America • federal courts • Merrill Lynch • SEC • bonuses • federal judges • Wall Street bailout • TARP • executive bonuses • Jed Rakoff

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