BofA Says Seizure Of Lehman Deposits Not Malicious

Law360, New York (January 18, 2011, 7:15 PM EST) -- Bank of America Corp., ordered in November to pay Lehman Brothers Holdings Inc. $590 million to cover funds seized in 2008, said it did not behave maliciously and should only be on the hook for an additional $1.3 million.

Lehman, meanwhile, is seeking an additional $9 million from Bank of America, according to a joint status report submitted by the two financial firms on Friday to Judge James Peck of the U.S. Bankruptcy Court for the Southern District of New York.

Bank of America maintained in...
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