UMECO plc Announces Holding Interest Of Bank of America Corporation
November 18, 2009 |
| UMECO plc announced that Bank of America Corporation holds 2,503,045 ordinary shares representing 5.2% issued share capital of UMECO plc. |
Chaucer Holdings PLC Announces Holding Interest Of Bank of America Corporation
November 18, 2009 |
| Chaucer Holdings PLC announced that Bank of America Corporation holds 34,425,150 ordinary share representing 6.28% issued share capital of the company. |
Bank of America Corporation Threatened To Walk Away From Merrill Deal-WSJ
November 17, 2009 |
| The Wall Street Journal reported that Bank of America Corporation's lawyers has informed its executives that it would be difficult for the bank to pull out of its deal to buy Merrill Lynch & Co., but the executives still threatened to walk away, prompting the government to provide another $20 billion in aid to get the merger done. |
Bank of America Corporation Acquires 5.07% Stake in Gafisa SA
November 13, 2009 |
| Gafisa SA (Gafisa) announced that the Bank of America Corporation has acquired 6,780,788 ordinary Company shares, through several subsidiaries, becoming the holder of a 5.07% share in Gafisa. |
Bank of America Corporation Announces Delay in Disclosure of Q3 Account Settlement for FY Ending December 2009
November 12, 2009 |
| Bank of America Corporation announced that it has delayed the disclosure of its third quarter account settlement for the fiscal year ending December 2009, as it required a longer time for the translation of performance information. The Company has submitted the settlement on December 9, 2009. |
HFA Holdings Limited Announces Holding Interest Of Bank Of America Corporation
November 6, 2009 |
| HFA Holdings Limited announced that Bank Of America Corporation holds 73,167,473 ordinary shares representing 15.89% issued share capital of the Company. Earlier had an interests of 28,479,082 ordinary shares representing 8.23% issued share capital of the Company. |
Debenhams Plc Announces Holding Interest Of Bank of America Corporation
October 30, 2009 |
| Debenhams Plc announced that Bank of America Corporation has an aggregate interest of 64,555,283 ordinary shares representing 5.017% of the Company's total voting rights. |
Bank of America Corporation Declares Quarterly Dividends
October 28, 2009 |
| Bank of America Corporation announced the Board of Directors authorized a regular quarterly cash dividend on Bank of America common stock of $0.01 per share, payable on December 24, 2009, to shareholders of record as of December 4, 2009. The Board also declared a regular quarterly cash dividend of $1.75 on the 7% Cumulative Redeemable Preferred Stock, Series B. The dividend is payable on January 25, 2010 to shareholders of record as of January 11, 2010. |
Mattioli Woods plc Announces Holdings Interest Of Bank of America Corporation
October 27, 2009 |
| Mattioli Woods plc announced that, on October 26, it received notification from Bank of America Corporation that on October 22, 2009, Bank of America Corporation acquired 365,966 Ordinary Shares of GBP0.01 each in the company (Ordinary Shares). The Ordinary Shares have been acquired through the Bank of America Corporation's subsidiary company Merrill Lynch International. As a result of this transaction, Merrill Lynch International has a notifiable interest in 1,228,317 Ordinary Shares, representing 7.10% of the company's issued share capital. |
Chaucer Holdings PLC Announces Holding Interest Of Bank of America Corporation
October 23, 2009 |
| Chaucer Holdings PLC announced that Bank of America Corporation has 48,700,029 ordinary shares, representing approximately 8.88% of the company's total voting rights. |
Bank of America Corporation To Sell First Republic Bank To Investors
October 21, 2009 |
| Bank of America Corporation announced that it has signed a definitive agreement to sell First Republic Bank to a number of investors, led by First Republic's existing management, and including investment funds managed by Colony Capital, LLC and General Atlantic LLC. The transaction is expected to close in the second quarter of 2010. Terms were not disclosed. |
Colony Financial, Inc. To Take Minority Interest In Acquisition of First Republic Bank From Bank of America Corporation
October 21, 2009 |
| Colony Financial, Inc. announced that it has committed to invest $25 million, together with additional amounts from other investment funds managed by Colony Capital, LLC, and alongside General Atlantic LLC and a number of other investors, to purchase First Republic Bank from Bank of America Corporation. The transaction will be led by First Republic's existing management and is expected to close in the second quarter of 2010. Terms were not disclosed. |
Parmalat S.p.A. Appeals Bank of America Corporation, Auditor Lawsuit Dismissals-Reuters
October 21, 2009 |
| Reuters reported that Parmalat S.p.A. has appealed the dismissal of its lawsuits accusing Bank of America Corporation and auditor Grant Thornton LLP of fraud in the Italian dairy company's 2003 collapse. On Wednesday, Chief Executive Enrico Bondi filed notice of Parmalat S.p.A.'s appeal, which was expected, to the U.S. Court of Appeals for the Second Circuit in New York. Bondi and the Parmalat Capital Finance Ltd unit had accused Grant Thornton of helping to set up fake transactions to allow insiders to steal from the company. Parmalat Capital made similar claims in a lawsuit against Bank of America. But on September 18, U.S. District Judge Lewis Kaplan said Parmalat S.p.A. should not recover for its own fraud, noting that the transactions also generated millions of euros for the company, known for its long-life milk. The case is In re Parmalat Securities Litigation, U.S. District Court, Southern District of New York, No. 04-1653. |
Bank of America Corporation Announces Strategic Alliance Eith Avjet Aviation Services
October 20, 2009 |
| Bank of America Corporation announced a strategic alliance with Avjet Corporation, a aviation services provider based in Southern California, providing preferred financing terms for clients who finance their aircraft through Bank of America and take advantage of the business aircraft management services of Avjet. |
Judge Approves Protective Order In Bank of America Corporation And SEC Case-DJ
October 14, 2009 |
| Dow Jones reported that a .S. judge approved a protective order allowing Bank of America Corporation to waive attorney-client privilege regarding some details of its acquisition of Merrill Lynch & Co. in a civil lawsuit by the U.S. Securities and Exchange Commission. In an order, U.S. District Judge Jed S. Rakoff in Manhattan approved the agreement, which would allow Bank of America Corporation to turn over some documents regarding the legal advice it received as part of its merger with Merrill Lynch last year. The court wishes to make clear, however, that it interprets the proposed protective order as simply protecting Bank of America against any claim that the stipulated waiver here attached implicitly effectuates a broader waiver; but the protective order in no way precludes any party in this or any other case from challenging on any other ground Bank of America's assertion of attorney-client privilege or work-product protection regarding any information, the judge wrote. The case is set for trial in March after Rakoff rejected a $33 million settlement of the allegations last month. The SEC has alleged that Bank of America told investors in proxy documents for the acquisition that Merrill Lynch agreed it wouldn't pay bonuses or other compensation to executives before the takeover deal was closed without Bank of America's consent. |
Bank of America Corporation CEO Candidates List Narrows-Reuters
October 7, 2009 |
| Reuters reported that, according to The Wall Street Journal, Bank of America Corporation's Board has narrowed the list of Company candidates to replace retiring Chief Executive Kenneth Lewis to the Company's Chief Risk Officer and its consumer and small business banking Chief. Chief Risk Officer Gregory Curl, likely would keep the job for no more than two years, the Journal said. The small business banking Chief, Brian Moynihan would be a longer-term choice, the Journal reported. An external candidate under consideration is former Merrill Lynch & Co President and Chief Operating Officer Gregory Fleming, the Journal said. Bank of America spokesman Bob Stickler declined to comment on the Journal's report. |
SEC Demands Jury Trial In Bank of America Corporation And Merrill Lynch & Co., Inc. Bonus Case-Reuters
October 7, 2009 |
| Reuters reported that The U.S. Securities and Exchange Commission (SEC) demanded a jury trial for its claims accusing Bank of America Corporation of misleading shareholders about bonuses to Merrill Lynch & Co., Inc. employees before the companies merged on January 1. |
US Judge Approves Tech Stocks IPO Settlement Against 55 Underwriters Including Bank of America Corporation's Merrill Lynch & Co-Reuters
October 6, 2009 |
| Reuters reported that US judge gave final approval for payment of $510 million to shareholders who sued over allocation of initial public offerings (IPO) during 1990s Internet stocks boom, but amount is far less than they sought. The opinion by Manhattan federal court Judge Shira Scheindlin settles 309 lawsuits that were part of class action against 55 underwriters and hundreds of issuers, corporate officers filed in 2001. Scheindlin awarded lawyers for shareholders about $170 million, a third of the net settlement fund of $510 million. In court filing last month, objectors to settlement said lawyers had sought one-third of the gross settlement of $586 million, or about $195 million. The judge said although lawyers obtained large gross settlement fund, the results, in general, are disappointing. Class members are expected to receive only $0.01 on each dollar lost and settlement based on much smaller class and lower expected damages than sought when the litigation began, opinion said. The underwriters include, Goldman Sachs Group Inc, Citigroup Inc., Bank of America Corporation's Merrill Lynch, Morgan Stanley, Credit Suisse Group and JPMorgan Chase & Co. The shareholders accused underwriters of making the allocation of IPO shares on the condition of certain aftermarket purchase agreements, paying inflated brokerage commissions or improperly using research analysts. This included encouraging analysts to set unrealistic price targets for IPO shares, according to court documents. |
Settlement Between Parmalat SpA and Bank of America Corporation Becomes Final
October 5, 2009 |
| Parmalat SpA announced that on October 2, 2009 the settlement with Bank of America Corporation was completed with the payment by the Bank of the agreed upon consideration. As was communicated in the press release of July 28, 2009, the settlement was entered into on July 28, 2009 subject to the approval of a contribution bar order by the federal district court of the Southern District of New York. The order was granted on September 22, 2009 and September 23, 2009. As of July 28, 2009, all litigation between Parmalat and Bank of America Corporation, acting directly or through their subsidiaries and affiliates, has been discontinued. |
Bank of America Corporation To Select Emergency CEO This Week-Reuters
October 5, 2009 |
| Reuters reported that, according to Wall Street Journal, Bank of America Corporation plans to select an emergency Chief Executive Officer (CEO) this week if legal issues force Ken Lewis to leave before year end. |
IBM Corporation Announces Agreement To Acquire Wilshire Credit Corporation Assets From Bank of America Corporation
October 5, 2009 |
| IBM Corporation announced that its mortgage servicing subsidiary has signed an agreement with Bank of America Corporation to acquire the core operating assets of Wilshire Credit Corporation, including the Wilshire mortgage servicing platform, and hire Wilshire's approximately 900 employees. Terms of the transaction were not disclosed. Wilshire's operating assets will become part of IBM's Lender Business Process Services, Inc. business unit, a wholly-owned subsidiary of the IBM Corporation. Terms of the deals were not disclosed. |
Bank of America Corporation To Pay $713 Million In TARP Preferred Dividends
October 2, 2009 |
| Bank of America Corporation announced the Board of Directors have authorized approximately $713 million in dividend payments to the U.S. government under the Troubled Asset Relief Program (TARP). Dividends related to the government's investment in the Company under TARP include; Cash dividend of $312.50 per share, or a total of approximately $188 million, on the Fixed Rate Cumulative Perpetual Preferred Stock, Series N, is payable on November 16, 2009 to the U.S. Department of the Treasury, the shareholder of record, as of October 31, 2009. This quarterly dividend payment relates to the government's $15 billion investment in Bank of America made under the Capital Purchase Program of TARP. Cash dividend of $312.50 per share, or a total of approximately $125 million, on the Fixed Rate Cumulative Perpetual Preferred Stock, Series Q, is payable on November 16, 2009 to the shareholder of record, the Treasury Department, as of October 31, 2009. This quarterly dividend payment relates to the government's $10 billion investment in Merrill Lynch & Co., Inc. made under the Capital Purchase Program of TARP. Cash dividend of $500 per share, or a total of approximately $400 million, on the Fixed Rate Cumulative Perpetual Preferred Stock, Series R, is payable on November 16, 2009 to the shareholder of record, the Treasury Department, as of October 31, 2009. This quarterly dividend payment relates to the government's $20 billion investment in Bank of America on January 16, 2009 under TARP. |
Bank of America Corporation Considering Hiring Short Term Chief Executive Officer-Reuters
October 2, 2009 |
| Reuters reported that Bank of America Corporation's Board of Directors is considering hiring a short term Chief Executive Officer (CEO), a move that signaled CEO Kenneth Lewis' plan to depart caught the Company flat footed. The Company said it may hire a Chief Executive for two years, allowing internal candidates more time to grow into the job. But that decision sends a worrisome message to investors who are looking for stability at the Company and are weary after more than a year of crises. |
Judge Rules Bank of America Corporation Suit Over Bear Loss Can Proceed-Reuters
October 1, 2009 |
| Reuters reported that a federal judge said Bank of America Corporation may pursue a lawsuit accusing former Bear Stearns Cos managers Ralph Cioffi and Matthew Tannin of lying in an attempt to prop up two failing hedge funds. A U.S. district judge in Manhattan on Wednesday let the Company pursue fraud and contract claims against JPMorgan Chase & Co, which now owns Bear, and the other defendants over transactions involving billions of dollars, court records show. Two other claims were dismissed, the records show. Cioffi and Tannin are scheduled to go on trial October 13 in a Brooklyn, New York, federal court for alleged fraud over their handling of the hedge funds, whose 2007 collapse helped lead to Bear's demise the following year. In its complaint, Bank of America said it suffered 'significant losses' on transactions because of Bear's having concealed that the funds were suffering substantial withdrawal demands in the spring of 2007 and faced imminent collapse. It said it lost money on a $4 billion securitization tied to complex mortgages it created at Bear's request, and on nearly $1 billion of financing the hedge funds raised from the bank because they were 'desperate to secure liquidity.' Bank of America sought compensatory and punitive damages. |
Bank of America Corporation To Sell Columbia Management's Long-Term Asset Management Business To Ameriprise Financial, Inc.
September 30, 2009 |
| Bank of America Corporation announced it has signed an agreement to sell the long-term asset management business of Columbia Management to Ameriprise Financial, Inc. for approximately $1 billion, subject to certain adjustments. The total consideration to be paid to Bank of America is expected to be between $900 million and $1.2 billion based on net asset flows and investor consents in the period leading up to closing. The transaction is expected to close in the spring of 2010. |
Bank of America Corporation Announces Retirement Of Ken Lewis As CEO
September 30, 2009 |
| Bank of America Corporation announced that Ken Lewis, Chief Executive Officer (CEO) and President has notified the Board of Directors of his decision to retire, effective December 31, 2009. The Board will continue ongoing planning to ensure his successor is selected by that date. Lewis will retire as CEO and as a Director. |
Bank of America Corporation and Executives Owe 'Billions Of Dollars' In Lawsuit-Reuters
September 28, 2009 |
| Reuters reported that, according to Ohio's attorney general, investors in a class action lawsuit against Bank of America Corporation over the Merrill Lynch & Co takeover are trying to collect 'billions of dollars' in damages. Attorney General Richard Cordray spoke after filing a 155 page complaint in Manhattan federal court that accuses Bank of America of fraudulently concealing Merrill's soaring losses even as it let Merrill award $3.6 billion of bonuses in 2008. Cordray is leading the case on behalf of five pension funds. Investors also want to recover from Bank of America Chief Executive Kenneth Lewis, Chief Financial Officer Joe Price, Chief Accounting Officer Neil Cotty, the bank's Board of Directors, and former Merrill Chief Executive John Thain. The amended complaint was filed late Friday, hours after Bank of America formally denied U.S. Securities and Exchange Commission claims accusing it of misleading shareholders about the bonuses. U.S. District Judge Jed Rakoff had rejected the Company's $33 million settlement with the SEC over the awards. Congress is also investigating the merger. |
Bank of America Corporation Urges Dismissal Of SEC Complaint-Reuters
September 25, 2009 |
| Reuters reported that Bank of America Corporation urged a federal judge to dismiss the U.S. Securities and Exchange Commission's complaint accusing it of misleading shareholders about bonuses it let Merrill Lynch & Co pay employees before the companies' January 1 merger. The Company's request, in a filing, was expected, and came 11 days after U.S. District Judge Jed Rakoff rejected its $33 million settlement with the SEC over the $3.6 billion of bonus awards. Rakoff, who is still handling the case, was upset that the accord did not require disclosure of the names of executives and lawyers who vetted the bonuses and the decision not to disclose them, and yet left shareholders on the hook for a fine. He called the settlement a Contrivance that violates the most elementary notions of justice and morality. In its answer to the SEC's complaint, Bank of America maintained that the proxy statement for the merger did not contain false or misleading statements, or omit key facts. The Company also said it was not negligent in preparing the proxy statement. |
Centennial Coal Company Limited Announces Voting Power Of Bank of America Corporation
September 22, 2009 |
| Centennial Coal Company Limited announced that Bank of America Corporation holds 23,357,368 shares of Centennial Coal representing 6.25% voting power in the Company. |
Bank of America Corporation Skips Congress Deadline; Faces New SEC Threat-Reuters
September 21, 2009 |
| Reuters reported that Bank of America Corporation failed to meet a deadline to hand lawmakers further details about its acquisition of Merrill Lynch and faces the possibility of new charges from U.S. securities regulators. The standoff with the House oversight committee heightened the chances lawmakers may subpoena the bank and raised the stakes for a Tuesday meeting between a senior bank executive and the committee chairman. Separately, the Securities and Exchange Commission (SEC) said it could pursue additional charges against Bank of America Corporation after a federal judge rejected a $33-million settlement between the bank and the regulator. An SEC statement made no mention of dropping the case that alleges Bank of America Corporation misled investors over bonuses paid to Merrill Lynch employees. We believe that this disclosure failure violated the federal securities laws, the agency said. Bank of America Corporation is defending itself on multiple fronts over the Merrill deal, including shareholder lawsuits and a threat by NY Attorney to file civil charges against top executives. Despite its legal battles, Bank of America Corporation announced it would exit a $118-billion asset-guarantee program it entered with the U.S. government on the heels of its January 1 purchase of Merrill Lynch. Bank of America Corporation said it will pay a $425-million fee to exit the facility that was never formally signed but was laid out in a term sheet in January. |
Bank of America Corporation Declares Quarterly Dividend On Series L Preferred Stock
September 18, 2009 |
| Bank of America Corporation announced that the Board of Directors authorized a regular quarterly dividend of $18.1250 per share on the 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L. The dividend is payable on October 30, 2009 to shareholders of record as of October 1, 2009. |
U.S. Authorities Conducting Criminal Probe Into Bank of America Corporation Purchase Of Merrill Lynch & Co., Inc.-Reuters
September 18, 2009 |
| Reuters reported that according to the Charlotte Observer, U.S. authorities are conducting a criminal probe into Bank of America Corporation purchase of Merrill Lynch & Co., Inc. The investigation is being conducted by the U.S. Department of Justice and Federal Bureau of Investigation and has been underway for six months. |
Parmalat S.p.A. Lawsuits Against Bank of America Corporation, Auditor Dismissed-Reuters
September 18, 2009 |
| Reuters reported that a U.S. federal judge in Manhattan has dismissed three Parmalat S.p.A. fraud lawsuits against Bank of America Corporation and the auditing firm Grant Thornton LLP over their roles in Parmalat S.p.A.'s 2003 collapse. Ruling by U.S. District Judge Lewis Kaplan is a setback for Parmalat S.p.A. and its chief executive Enrico Bondi, who has filed dozens of lawsuits against banks and auditors, including Citigroup Inc and the auditor Deloitte Touche Tohmatsu, for helping prior management loot Parmalat S.p.A. Parmalat S.p.A. said in a statement that it believed the decision was erroneous, and that it intends to appeal. |
Bank of America Corporation And China Construction Bank Corporation Mull Bank Card And Leasing Joint Venture-DJ
September 17, 2009 |
| Dow Jones reported that according to Caijing magazine report, Bank of America Corporation plans to offer credit card and financial leasing services in China with China Construction Bank Corporation via a joint venture. |
Fieldbury Plc Announces Holding Interest Of Bank of America Corporation
September 17, 2009 |
| Fieldbury Plc announced that Bank of America Corporation has acquired 5,740,000 shares, representing 9.95% of the voting rights of the Company. |
SEC Has Few Options, None Good, In Bank of America Corporation Case-Reuters
September 15, 2009 |
| Reuters reported that Stung by a federal judge's rejection of settlement efforts with Bank of America Corporation, the U.S. Securities and Exchange Commission has a few ways to proceed in the case. None is good. U.S. District Judge Jed Rakoff blasted the $33 million accord to resolve charges the bank lied to shareholders about bonuses it let Merrill Lynch & Co pay while it was buying that company, calling it a contrivance that violates the most elementary notions of justice and morality. The Manhattan judge ordered the case to go to trial by February 1. The SEC can avoid this, but no option guarantees victory. It may ask the Second Circuit Court of Appeals to review Rakoff's decision. It may go to trial, and lose. It may dismiss the case despite saying the bank broke the law. It may craft a new accord, which Rakoff could reject. Or it may sue individual executives and lawyers after saying it lacked evidence. The case is one of many arising from Bank of America Corporation's purchase of Merrill, which was announced last September 15 and which closed on January 1. |
Bank of America Corporation $33 Million Settlement With U.S. Securities and Exchange Commission Over Merrill Lynch & Co Bonuses Rejected-Reuters
September 14, 2009 |
| Reuters reported that a federal judge rejected Bank of America Corporation $33 million settlement with the U.S. Securities and Exchange Commission over Merrill Lynch & Co bonuses as a contrivance, and New York's top legal officer prepared to sue senior bank executives. New York Attorney General Andrew Cuomo may file civil charges against some Bank of America executives, including 'some of the very highest-ranking,' over the companies' January 1 merger. |
Jackgreen Limited Announces Holding Interest Of Bank of America Corporation
September 10, 2009 |
| Jackgreen Limited announced that Bank of America Corporation holds 14,353,000 ordinary shares representing 5.34% issued share capital of the company. |
Bank of America Corporation Pushes SEC Settlement, Rejects Cuomo Charges-Reuters
September 9, 2009 |
| Reuters reported that Bank of America Corporation and the U.S. Securities and Exchange Commission made a third attempt to persuade a skeptical judge to approve their settlement over Merrill Lynch & Co bonuses. But experts said they may not have done enough. Bank of America Corporation separately rejected allegations brought by New York Attorney General Andrew Cuomo that it is hiding behind attorney-client privilege as a defense for its decisions over Merrill. Cuomo has threatened to sue top executives if the bank by September 14 is not more forthcoming. Bank of America Corporation agreed last month to pay $33 million to settle SEC charges it misled investors about $3.6 billion of bonuses paid to Merrill employees, which lost $27.6 billion last year. |
Bank of America Corporation's MBNA Launches New No Balance Transfer Fee Card
September 2, 2009 |
| MBNA, a wholly owned subsidiary of Bank of America Corporation, announced the launch of a new credit card offering no balance transfer handling fee and an introductory rate of 1.9 % p.a. for 12 months on balance transfers. The standard rate of interest for purchases will be 15.9% APR (typical) variable. |
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