The Securities Exchange Commission decided that Bank of America is going to have to pay $33 million for failing to alert shareholders about bonus payments made to Merrill Lynch.

The SEC filed charges against BofA this morning for misleading its’ investors about paying billions of dollars in bonuses to top executives at Merrill Lynch, the brokerage giant they just purchased.

“Regulators alleged that the Charlotte, N.C.-based lender failed to disclose plans to give out $5.8 billion in bonuses for fiscal year 2008 in its proxy statement. Instead, Bank of America told shareholders that Merrill had agreed not to pay year-end performance bonuses, according to the SEC.”

“‘Failing to disclose that a struggling company will pay out billions of dollars in performance bonuses obviously violates that duty and warrants the significant financial penalty imposed by today’s settlement,’ Robert Khuzami, Director of the SEC’s division of enforcement, said in a statement.”

BofA agreed to settle without admitting to the charges.

Check out the original article: BofA to pay $33M fine over Merrill bonuses

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New York Supreme Court witnessed the filing of a law suit brought by Merrill Lynch - now merged with Bank of America, against Germany’s Deutsche Bank over stealing financial employees. The legal leg this case stands on is a violation of a non-compete agreement.

The Merrill Lynch financial employee in question failed to honor the time period stated in his non-compete agreement with the company when he left to accept employment with Deutsche Bank.

Many corporations include non-compete agreements with their employment agreements for just this reason. Within the current employment crisis, this legal document can be a deterrent as mergers, failings and changes of control are quite common in both large and small companies.

The non-compete agreements for many of the top companies and corporations making use of these legal documents can be found at the online legal document resource RealDealDocs.com website.

RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com.
SmartRules provides step by step guides to local rules and civil procedure for state courts & federal courts throughout the country.

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Merrill Lynch Purchase Agreement Released by Legal Insider

The Purchase Agreement for Merrill Lynch was made available today by online legal document provider RealDealDocs.com.

The Merrill Lynch Purchase Agreement was drafted in 2006 in order to facilitate the purchase of $20,000,000 worth of preferred securities from Deerfield TriArc Capital Corporation. That year also saw the drafting of another Merrill Lynch Purchase Agreement with now-troubled corporation Lehman Brothers as underwriters.

A Purchase Agreement is a legal document for the purchase and sale in which a seller agrees to sell and a buyer agrees to buy within specific terms and conditions.

RealDealDocs.com is the online legal document resource preferred by lawyers, deal professionals and entrepreneurs. The powerful search functionality is easy to use which is just one of the reasons 40 of the top 200 law firms in the world use it.

The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike. The legal documents at RealDealDocs.com have been drafted by the nation’s top law firms for some of the top companies in America.
RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law. Visitors can search the extensive RealDealDocs.com database absolutely free and members of the site may also download, copy, edit and print unlimited legal documents for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and free legal document searches.

RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com, the first online practice guide for the national litigator and the national litigation practice.

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Inside the Merrill Lynch Stock Purchase Agreement

The online legal document provider, RealDealDocs.com has released a number of Stock Purchase Agreements for the top companies in America including many Fortune 500 companies. These are the actual legal documents drafted by the nation’s top law firms.

Earlier this year, Merrill Lynch entered a stock purchase agreement with American Oriental Bioengineering Inc. in which the company opted to purchase over 3 million shares of Merrill Lynch common stock. Merrill Lynch was recently bailed out by Bank of America causing a wave of concern on Wall Street. The entire execution copy of the Merrill Lynch stock purchase agreement is available on the RealDealDocs.com website.

A Stock Purchase Agreement is a legal document to transfer ownership of stocks from the seller to the purchaser. The key provisions of a stock purchase agreement have to do with the transaction itself, such as the date of the transaction, the number of stock certificates, and the price per share. In addition, the agreement should specify the name of the corporation whose stock is being sold in the transaction.

RealDealDocs.com is the online legal document resource preferred by lawyers, deal professionals and entrepreneurs. The powerful search functionality is easy to use which is just one of the reasons 40 of the top 200 law firms in the world use it.

The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike.

RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law. Visitors can search the extensive RealDealDocs.com database absolutely free and members of the site may also download, copy, edit and print unlimited legal documents for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and free legal document searches.

RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com, the first online practice guide for the national litigator and the national litigation practice.

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Inside the Merrill Lynch Stock Purchase Agreement

The online legal document provider, RealDealDocs.com has released a number of Agreements and Plan of Mergers for the top companies in America including many Fortune 500 companies. These are the actual legal documents drafted by the nation’s top law firms.

In News of the Bank of America bail out of Merrill Lynch, and the failing of Lehman Brothers are widely known as of this week. As concern for the security of America’s financial Institutions rises, RealDealDocs.com offers a look at a number of mergers and acquisitions. The entire execution copy of the Bank of America Agreement and Plan of Merger is available on the RealDealDocs.com website.

An Agreement and Plan of Merger is a legal document outlining the terms and conditions of the merger or acquisition of a company.

RealDealDocs.com is the online legal document resource preferred by lawyers, deal professionals and entrepreneurs. The powerful search functionality is easy to use which is just one of the reasons 40 of the top 200 law firms in the world use it.

The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike.

RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law. Visitors can search the extensive RealDealDocs.com database absolutely free and members of the site may also download, copy, edit and print unlimited legal documents for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and free legal document searches.

RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com, the first online practice guide for the national litigator and the national litigation practice.

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Merrill Lynch Pooling and Servicing Agreement Exposed by Legal Insider

The online legal document provider, RealDealDocs.com has released a number of Pooling and Servicing Agreements for the top companies in America including many Fortune 500 companies. These are the actual legal documents drafted by the nation’s top law firms.

Just one year ago, Merrill Lynch drafted a Pooling and Servicing Agreement with HSBC Bank USA in order to transfer their loans to HSBC Bank USA. Also in 2007, True North Energy Corporation drafted a pooling and servicing agreement with Savant Alaska as the desired to pool and combine their respective interests in certain lands. Both of these pooling and servicing agreements are available in their entirety on the RealDealDocs.com website.

A Pooling and Servicing Agreement is a legal document describing how pooled loans will be serviced and dictates how proceeds and losses will be distributed.

RealDealDocs.com is the online legal document resource preferred by lawyers, deal professionals and entrepreneurs. The powerful search functionality is easy to use which is just one of the reasons 40 of the top 200 law firms in the world use it.

The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike.

RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law. Visitors can search the extensive RealDealDocs.com database absolutely free and members of the site may also download, copy, edit and print unlimited legal documents for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and free legal document searches.

RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com, the first online practice guide for the national litigator and the national litigation practice.

Popularity: 2% [?]