Was New York’s Attorney General Andrew Cuomo trying to steal the thunder from the Securities and Exchange Commission?
On the same day that the SEC revealed its proposed $150 million settlement with Bank of America Corporation, Cuomo announced that he is suing the bank over the same disclosure omissions, as well as for allegedly misleading the government when it asked for additional bailout funds. In contrast to the SEC, Cuomo is also charging two individuals: the bank’s former chief executive officer Kenneth Lewis and its former chief financial officer, Joe Price.
