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BAC Shareholders pay fine for BAC lying to shareholders...

Started by Riversider
almost 16 years ago
Posts: 13572
Member since: Apr 2009
Discussion about
http://www.washingtonpost.com/wp-dyn/content/article/2010/02/04/AR2010020402146.html ank of America separately agreed to pay $150 million to settle two earlier lawsuits brought by the Securities and Exchange Commission charging that the company lied to shareholders. The SEC's legal action, which was less aggressive than Cuomo's, did not include fraud charges and cleared individual executives of wrongdoing.
Response by Riversider
almost 16 years ago
Posts: 13572
Member since: Apr 2009

Bank of America, through its top management, engaged in a concerted effort to deceive shareholders and American taxpayers at large," Cuomo said. "They committed an enormous fraud, and American taxpayers ended up paying billions for Bank of America's misdeeds."

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