Word: lewises
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Dates: during 2000-2009
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The SEC case against Bank of America - the one that was settled, but could now be revived - involves lying on a proxy statement. The good news for Lewis is that proxy fraud generally has lower penalties than regular securities fraud. The bad news is that the bar for proving that...
The SEC is only allowed to bring civil cases. So even if Lewis is found liable on proxy statements, there is no possibility of jail time. The SEC can bar individuals from being officers of public companies, which would put an end to Lewis' Bank of America career, but legal...
Cuomo will have a higher bar to clear if he's looking for wrongdoing outside the proxy statements. In general securities-fraud cases, it must be proven that executives of a company knew that a piece of information was material and created a scheme to make sure shareholders didn't...
Whatever the penalty, though, if Lewis is found to have lied about facts surrounding the Merrill merger, it is likely that the board will be forced to let him go. "Judge Rakoff is saying that executives need to be held accountable for the decisions they made," says Corporate Library's...
In 1955, Harvard sputtered to a 2-7 record, but Kennedy experienced his greatest success on the football field, starting for the Crimson and playing on both sides of the ball. His signature moment came in the Harvard-Yale Game, the last of his career. With the Bulldogs up, 14...