NEW YORK -- A judge has promised to decide by the end of next week whether to approve a $150 million settlement between the Securities and Exchange Commission and Bank of America Corp. about civil charges alleging that the bank misled shareholders when it acquired Merrill Lynch last year.
Judge Jed Rakoff of U.S. District Court said he will decide only after giving lawyers on each side a written list of questions he has about the deal and hearing their responses. Rakoff made clear during a hearing that he would like to see some changes, including the possibility of leaving the court with the ability to oversee some important issues related to the company, such as compensation.
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