Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Saturday, July 2, 2011

New York AG Issues Subpoenas to BofA CEO and other Executives

The Wall St. Journal reports that the New York AG, as part of an investigation begun by former AG and current governor Andrew Cuomo, has issued subpoenas seeking testimony from Bank of America's current CEO and other executives.  The investigation stems from BofA's 2008 acquisition of Merrill Lynch and questions about whether Bof A misled its shareholders about the extent of Merrill's losses.  This is a significant development since there were questions about whether the current AG had an interest in the types of securities fraud investigations brought by his predecessor.  WSJ, New York Attorney General Steps Up Probe Into BofA-Merrill Disclosures

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