BAC & Countrywide Hit With Series of Subpoenas and Legal Problems
Read the full article: http://www.money-rx.com/blog/2008/08/subpoena-fest-at-bac-co...
For starters, Bank of America Corp. said it received subpoenas and requests for information with regards to auction-rate securities from multiple federal and state government agencies. Countrywide has responded to a subpoenas from the SEC, according to a regulatory filing, and now faces a criminal SEC investigation. And four class-action lawsuits have been filed against BAC, on behalf of purchasers of auction-rate securities in-between May 2003 and Feb 2008.
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