Bank of America Corp. and its Merrill Lynch & Co. unit have asked a federal judge to dismiss consolidated shareholder complaints over inadequate disclosures about the investment bank's financial condition and its plans to pay billions of dollars in bonuses before the closing of their merger.

In separate motions filed last week, the Charlotte banking company and its Merrill investment banking unit asked U.S. District Judge Denise Cote to throw out several consolidated shareholder lawsuits, saying the shareholders are trying to improperly "second-guess" the business judgment of their boards.

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