Cuomo Hits 5 BofA Directors With Subpoenas

Andrew Cuomo subpoenaed five members of Bank of America’s board of directors today in his probe to uncover whether the bank was truthful to shareholders about losses at Merrill Lynch, the Wall Street Journal reports. The New York Attorney General suspects that the board was fully informed of the trouble Merrill was in before a Dec. 5 shareholder vote to approve the merger, but may have kept shareholders out of the loop.
(More Bank of America stories.)