More Cuts at UBS, Fresh Controversy for Merrill

• UBS will make a fourth round of job cuts and is closing several divisions. [BN]
• A class-action lawsuit has been filed against Bank of America for failing to disclose the risks associated with the acquisition of Merrill Lynch. [Reuters]
• More BoA-Merrill trouble: It seems the bank accelerated bonus payments last month so it could hand out the cash before the bank changed hands. [FT]
• The SEC has filed charges against missing hedge funder Arthur Nadal. [NYP]
• Win Bischoff's goodbye email to Citigroup employees. [Deal Journal]
• A record $152 billion was pulled from hedge funds in the fourth quarter. [DB]
• In other bad news, Microsoft is cutting 5,000, Intel is laying off 6,000, and Sony says it lost $2 billion more than expected last year. [WSJ, CNN, BN]