SEC seeks jury to hear Bank of America dispute

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Associated Press

Posted on October 7, 2009 at 5:20 PM

Updated Wednesday, Oct 7 at 5:20 PM

NEW YORK (AP) — The Securities and Exchange Commission has asked for a jury to hear any triable issues related to its lawsuit against Bank of America Corp.

A judge last month rejected a $33 million settlement between the SEC and Bank of America, saying the SEC's accusations of inadequate disclosure by the bank over bonuses paid at Merrill Lynch must go to trial.

The case is likely to publicly air the issues over one of the most sensitive issues of the financial crisis — executive pay on Wall Street.

A trial date is set for March 1.

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