SEC demands jury trial in BofA bonuses case

NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Wednesday demanded a jury trial for its claims accusing Bank of America Corp (BAC.N) of misleading shareholders about bonuses to Merrill Lynch & Co employees before the companies merged on January 1.

Last month, U.S. District Court Judge Jed Rakoff, upset that a settlement did not require disclosure of names of individual executives and lawyers who approved the bonuses, rejected a $33 million accord over the $3.6 billion in bonuses, and set a trial date For March 1, 2010.

"Pursuant to Rule 38 of the Federal Rules of Civil Procedure, plaintiff Securities and Exchange Commission demands trial by jury in this action of all issues so triable," the one-sentence filing in Manhattan federal court said.

Representatives of the bank were not immediately available to comment.

Bank of America, based in Charlotte, North Carolina, faces many lawsuits and investigations by lawmakers and regulators over the Merrill merger, which made it the largest U.S. bank.

The case is SEC v. Bank of America Corp 09-6829 in U.S. District Court for the Southern District of New York (Manhattan)

(Reporting by Grant McCool; Editing Bernard Orr)