Former Bank of America (BAC) Chief Executive Kenneth Lewis has once again rejected fraud charges in a lawsuit by New York’s attorney general who accused him of civil securities fraud in February in connection to the bank’s 2008 purchase of Merrill Lynch & Co. Cuomo maintains Lewis withheld information about losses at Merrill from bank shareholders.
In court papers filed on Wednesday, Lewis said NY AG Andrew Cuomo had no basis in his civil lawsuit to allege a conspiracy to mislead the public and shareholders.
Reuters:”Some have looked to assign blame for every aspect of the financial crisis, even where there is no evidence of misconduct,” Lewis said in his filing in the New York State Supreme Court in Manhattan. “This case is a product of that dynamic and does not withstand either legal or factual scrutiny.”
In February Lewis turned down an offer to settle fraud allegations Cuomo lodged against him saying he was prepared to go to trial.
Leave a Reply