Cuomo Files Civil Charges Against Ken Lewis, BofA

New York AG says bank misled investors on Merrill Lynch
By Newser Editors and Wire Services
Posted Feb 4, 2010 10:42 AM CST
In this Sept. 15, 2008, file photo, Ken Lewis listens during a news conference in New York.   (AP Photos/Bebeto Matthews, file)

(Newser) – New York Attorney General Andrew Cuomo is filing civil charges against Bank of America and former CEO Ken Lewis, saying the bank misled investors about Merrill Lynch when it acquired the Wall Street bank in late 2008. Civil charges also were being filed against Joe Price, the bank's former chief financial officer.

Lewis stepped down from Bank of America on Dec. 31 after almost a year of strife that followed the bank's purchase of Merrill Lynch. Bank of America has been accused of failing to properly disclose losses at Merrill and bonuses paid to investment bank employees before the deal closed.

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