BofA e-mails indicate board saw Merrill losses before shareholder vote

10/21/2009 | Bloomberg · Washington Post, The

E-mails provided to the House Oversight Committee show that board members at Bank of America knew of losses at Merrill Lynch at least one month before shareholders voted to approve the deal, sources familiar with the matter said. The committee is investigating the acquisition because the board is alleged to have withheld information from shareholders about losses at Merrill before completing the deal. The bank's board also said that it knew of losses only after shareholders voted to complete the deal; the e-mails seem to contradict that position.

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Bloomberg · Washington Post, The

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