Bank of America Corp. filed a formal answer to the Securities and Exchange Commission's complaint Friday on disclosures regarding bonuses paid to Merrill Lynch & Co. employees after a federal judge rejected a $33 million settlement in the case this month.
Bank of America generally denied the allegations and shed little new light on its claims that it has committed no wrongdoing.
The company said it and Merrill Lynch disclosed, as part of the proxy statement on the merger and elsewhere, that Merrill Lynch "was continuing to accrue compensation and benefits expenses in 2008 at a rate similar to 2007."
