Ohio Attorney General Richard Cordray said today in court that investors in the securities class action his office is leading against Bank of America and its top executives are seeking to recover “billions of dollars” in damages.
Cordray stated that “the amount of shareholder value affected here, negatively, is about as great as has been alleged in any case, ever,” and that damages “could well be in the billions of dollars.” Reuters reports that according to Cordary, investors are “not looking immediately to settle.”
A Bank of America spokeswoman stated that the bank is “confident we disclosed all that was required and look[s] forward to presenting our position to the court.”
