Friday's a big day...

...if you're gauging court scrutiny of SEC settlements.  Judge Rakoff of the S.D.N.Y. is set to issue his decision on the SEC's second attempt at settling allegations against Bank of America stemming from its 2008 merger with Merrill Lynch.  Last fall, the Judge rejected a settlement imposing a $33 million fine in a written decision that, while stating that such settlements are often accorded much deference, nonetheless called the deal unreasonable, inadequate, and detrimental to shareholders.  For details on the settlement presently being evaluated see http://www.sec.gov/litigation/litreleases/2010/lr21407.htm .

---JSC, 2/17/10