Cuomo Said To Issue Subpoenas In Merrill Probe

Law360, New York (September 17, 2009, 7:45 PM EDT) -- With Bank of America Corp. executives reticent regarding the bank’s acquisition of Merrill Lynch & Co. Inc., New York Attorney General Andrew Cuomo reportedly has subpoenaed five of the bank’s board members to get answers about the patchy disclosure statements relating to the deal.

Last week Cuomo, close to formalizing charges, urged the executives to stop hiding behind attorney-client privilege and explain why information about billions in executive bonuses and Merrill Lynch’s deterioration was kept from shareholders. The subpoenas went out Sept. 16, Bloomberg reported, suggesting...
To view the full article, register now.