• Embed Doc
  • Copy Link
  • Readcast
  • Collections
  • CommentGo Back
Download
 
Concealed Information About Losses at Merrill Lynch
Failure to Disclose Material Information to Shareholders
October & November 2008 were two of the worst months in fixed incomeand credit market history 
On November 12, Henry Paulson announces TARP will not buy assets, assetprices go into freefall
Losses in Merrill ortfolio would have been evident well before December5
th
, 2008 shareholder vote to approve merger
 Wall Street Journal article dated 2/5/09 details timing of losses in MerrillPortfolio (see article)
Bank of America had a full team of accountants at Merrill’s offices reviewingthe portfolio marks daily starting in September
 According to media reports, Merrill Lynch board is informed on December8, 2008 that the credit and fixed income losses were “in line with estimates”
No estimates of losses were provided to BAC shareholders prior to theshareholder vote on December 5, 2008
 www.BACPROXYVOTE.com
of 00

Leave a Comment

You must be to leave a comment.
Submit
Characters: ...
You must be to leave a comment.
Submit
Characters: ...