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November 17, 2010
BofA Must Return $500 mln Seized Lehman Deposits
"Bank of America Corp (BAC.N) was ordered by a U.S. judge to return $500 million of deposits it seized from Lehman Brothers Holdings Inc (LEHMQ.PK) shortly after Lehman's bankruptcy.
U.S. Bankruptcy Judge James Peck said Bank of America violated federal law when it "brazenly" seized the deposits after having taken advantage of Lehman's weakened condition in the summer of 2008 in obtaining the money."
November 17, 2010 in Current Affairs | Permalink
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