The Securities and Exchange Commission sued Bank of America Corp. Tuesday, alleging that it violated federal proxy rules by failing to disclose mounting losses at Merrill Lynch & Co. before a 2008 shareholder vote on their merger.

The regulator said late Monday that it planned to filed a separate complaint against the Charlotte banking company after a federal judge in Manhattan rejected its bid that day to add the allegations to an existing lawsuit over disclosures before the January 2009 merger closing.

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