Sure enough, Bank of America's Answer does not rely on a Defense of Advice of Counsel to the pending claims of Securities Fraud leveled by the Securities and Exchange Commission. In fact, the Answer does not even allege advice of counsel at all, really. Not so you would notice.
BOA's Answer was filed on Friday, September 25, 2009 in the same proceeding in which the United States District Judge previously refused to approve the Consent Settlement Judgment that BOA reached with the SEC, calling it "a contrivance." As was previously reported in this space, the Federal Judge's Order expressed concern about what apparently amounts to alleged Breaches of Fiduciary Duties among other things. Here is a complete copy of the Bank's Answer: Download BOA.Answer.092509 (SDNY Case No. 09 civ 6829).
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