Other than the cost of litigating the case, Lehman Brothers announced they won't be pursuing damages from Bank of America (NYSE:BAC).
The lawsuit centered around deposits valued at about $500 million being taken from Lehman by Bank of America, which were ordered to be returned, along with $90 million in interest.
Lehman is asking for Bank of America to pay $1.3 million in lawyer fees, along with an additional $8.8 million in unrelated funds taken by the bank.
Bank of America has stated they're going to appeal the $590 million ruling of Judge James Peck.
Wednesday, January 19, 2011
Bank of America (NYSE:BAC) Not Being Pursued for Damages by Lehman
Subscribe to:
Post Comments (Atom)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
2 comments:
SETTLE IT AS REQUESTED AND TAKE THE RESERVES OFF YOUR BOOKS.
BAC is guilty as charged and will be forced to settle, they're just griping about it as a result of pure greed which got them here in the forst place.
Post a Comment