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Monday, June 4, 2012

Bank Of America Accused Of Hiding Merrill Lynch Losses From Shareholders Before Acquisition

http://www.reuters.com/article/2012/06/04/us-bankofamerica-merrill-lawsuit-idUSBRE8530Q820120604

Top executives at Bank of America Corp (BAC.N) did not tell shareholders just before a 2008 vote on its purchase of Merrill Lynch & Co that Merrill's losses were mounting and expected to weigh down earnings for years, papers filed in private shareholder litigation show.

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