|[May 05, 2014]
BANK OF AMERICA INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates Bank of America Corporation Following Disclosure of $4 Billion Accounting Error
NEW ORLEANS --(Business Wire)--
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a
partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces
that KSF has commenced an investigation into Bank of America Corporation
On April 28, 2014, Bank of America announced a $4 billion downward
revision of the Company's previously disclosed regulatory capital due to
an accounting error related to the Company's 2009 acquisition of Merrill
Lynch & Co. The Company further announced that the Federal Reserve Board
has required the Company to resubmit its data templates and requested
capital actions and directed that the Company suspend its plan to buy
back more shares and raise its dividend. The Federal Reserve Board
stated that, "Bank of America must address the quantitative errors in
its regulatory capital calculations as part of the resbmission and must
undertake a review of its regulatory capital reporting to help ensure
there are no further errors."
KSF's investigation is focusing on whether Bank of America and/or its
officers and directors violated state or federal securities laws.
If you have information that would assist KSF in its investigation, or
own a significant amount of Bank of America stock that was purchased
recently and would like to discuss your legal rights, you may, without
obligation or cost to you, e-mail or call KSF Managing Partner Lewis
or KSF Partner Melinda Nicholson (firstname.lastname@example.org)
toll free at 1-877-515-1850.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General
Charles C. Foti, Jr., is a law firm focused on securities class action
and shareholder derivative litigation with offices in New York and
Louisiana. KSF's lawyers have significant experience litigating complex
securities class actions nationwide on behalf of both institutional and
To learn more about KSF, you may visit www.ksfcounsel.com.
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