Yesterday the court rejected the SEC’s request to amend the complaint to add an additional count but left open the option to file it separately, and today the SEC did just that. The SEC is alleging that Bank of America should have disclosed Merril’s $4.5 billion loss in October, 2008, and additional losses in November to its shareholders prior to voting on the merger.
The trial for the original complaint is set to begin in March, and the second trial may start as soon as this summer.