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According to a recent survey of 440 senior executives around the world, M&A activity is expected to increase in the next two years while major fundraising initiatives largely remain on hold
Yesterday, Judge Jed S. Rakoff issued an order requesting additional information from the Securities and Exchange Commission and Bank of America in response to the proposed $150 million settlement for Bank of America’s alleged failure to disclose employee bonuses and financial losses at Merrill Lynch before shareholders approved the merger of the companies in December 2008
On February 4, New York Attorney General Andrew Cuomo, joined by Neil Barofsky, the special inspector general of the Troubled Asset Relief Program, announced civil fraud charges against Bank of America, former Chief Executive Officer Kenneth Lewis and former Chief Financial Officer Joe Price for failing to disclose material information to shareholders prior to their vote to approve the merger with Merrill Lynch
On Tuesday, the SEC announced that it had filed a complaint in the Southern District of New York charging Bank of America with violating the federal proxy rules by failing to disclose extraordinary financial losses at Merrill Lynch prior to a BofA shareholder vote to approve a merger between the two companies
