| |||||||||||||||||||||||
| |||||||||||||||||||||||
 New York Attorney General Andrew Cuomo is ramping up the pressure on Bank of America Corp. (NYSE:BAC) as he has reportedly subpoenaed five members of the bank's board of directors for his investigation into whether shareholders were misled over the purchase of Merrill Lynch & Co.Media reports did not name the five board members, and thus far Bank of America has not commented. Cuomo's office plans to eventually subpoena all 15 board members present in December, a person familiar with the matter told The Wall Street Journal. Cuomo has dogged Bank of America over the Merrill deal ever since it came out that the target had doled out $3.6 billion in early bonus money right before getting bought and reporting a $16 billion loss for the fourth quarter. On Monday U.S. District Judge Jed Rakoff rejected the bank's $33 million settlement with the SEC over the bonus issue and set a court date for February. BofA's CEO Ken Lewis as well as former Merrill CEO John Thain have already been subpoenaed and testified before Cuomo's grand jury. - George White Also see: Cuomo and BofA in bicep-flexing match BofA's saga over Merrill bonuses continues BofA settlement with SEC comes under scrutiny The quest for the truth from BofA BofA lawyers fire back at Cuomo
 Deal Video
    Community
 Elsewhere on The Deal.comDealwatch
The Deal MagazineCorporate Dealmaker
The Deal VideoCategories
Blog roll
Archives
| |||||||||||||||||||||||
|
|
|
|
|
©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.
