NY's Cuomo subpoenas five Bank of America directors
NEW YORK, Sept 16 |
NEW YORK, Sept 16 (Reuters) - New York Attorney General Andrew Cuomo has issued subpoenas to five Bank of America Corp (BAC.N) directors to learn what they knew about Merrill Lynch & Co's losses and bonuses while the companies were preparing to merge, a person familiar with the probe said.
It was unclear which directors were issued subpoenas, but they include "those most likely to have been briefed the most" about the merger in November and December, the person said, requesting anonymity because Cuomo's probe was ongoing.
Shareholders approved the merger on Dec. 5, and the merger closed on Jan. 1. About half of Bank of America's board has since turned over.
Bank of America was not immediately available for comment. (Reporting by Jonathan Stempel, editing by Maureen Bavdek)
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