In its continuing battle to win court approval of a settlement with the Bank of America, the Securities and Exchange Commission insisted Wednesday that the bank’s former general counsel, Timothy Mayopoulos, did not lose his job because he gave unwelcome advice about the bank’s takeover of Merrill Lynch & Co.
Instead, the agency, in a “supplemental statement of facts” filed Wednesday, cited bank sources to the effect that “ Mayopoulos was terminated for reasons having no connection to his legal advice or any other aspect of his job performance. Rather, Mayopoulos was terminated in an attempt by Lewis to avert the imminent departure of the Bank’s then-head of global corporate and investment banking, Brian Moynihan.”
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]