Word: statement
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...York attorney general Cuomo, who is also reportedly weighing charges against chief financial officer Joe Price over the Merrill bonuses and other issues surrounding the combination of the two banks. Neither Lewis nor Price could be reached for comment, though a Bank of America spokesman recently provided this statement to the Wall Street Journal: "We will continue to cooperate with the Attorney General's office as we maintain that there is no basis for charges against either the company or individual members of the management team...
...Though many questions remain, here's what is known about Lewis' involvement in the Merrill deal. In a proxy statement Bank of America sent out to investors seeking approval of its acquisition of Merrill Lynch, the bank said that Merrill would not pay year-end bonuses without Bank of America's consent. But according to the SEC, Bank of America had already agreed to allow Merrill to pay $5.8 billion in bonuses. Telling shareholders that Merrill still had to seek approval, and omitting mention that bonuses had been agreed upon, was, according to the SEC, "materially false and misleading...
...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 one lied on a proxy statement is much lower than for general securities fraud. In proxy fraud, the prosecution just has to prove that Lewis was negligent in not including certain information. The SEC does not have to prove, as is the case in regular securities fraud, that Lewis orchestrated a scheme...
...Hamas, for its part, was similarly dismissive of the report's findings on its rocket fire. "This report equates the victim with the aggressor," said Hamas Gaza spokseman Ismael Radwan, a statement that sums up the Israeli position, too. At the very heart of the Israeli-Palestinian stalemate, after all, is the question of just who is the victim...
NATO In Brussels, NATO Secretary-General Anders Fogh Rasmussen welcomed the U.S. decision, a sentiment echoed in a statement released by Britain's Foreign Office, which said the announcement "confirms the close cooperation between the U.S. and NATO allies on developing antimissile systems." Rasmussen also said missile defense would continue in an altered form. "It is my clear impression that the American plan on missile defense will involve NATO ... to a higher degree in the future," the AP reported him as saying. "This is a positive step in the direction of an inclusive and transparent process, which I also think...