Nutshell: The Latest In The BofA Saga; 2nd Circuit Reinstates Controversial Global Warming Suits


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  • Today’s BofA news:  The SEC said it will take its claims related to the BofA bonus controversy to trial and “vigorously pursue” its case.  (  Meanwhile BofA failed to meet yesterday’s deadline to turn over additional documents to Congress; the bank is being advised in the Congressional inquiry by Wilmer Cutler Pickering Hale and Door.  (The AmLaw Daily)
  • The EU made public its evidence supporting the $1.5 billion fine levied against Intel for antitrust violations.  The documents include internal Dell emails indicating executives feared “all out war” from Intel if Dell went with AMD.  (NYT)
  • Cleary Gottlieb investigates the investigator:  A report issued by Cleary indicates Deutche Bank AG’s chairman knew more about the bank’s surveillance activities of a litigious shareholder than was previously disclosed. (WSJ)
  • Two 2nd Circuit judges reinstated global warming lawsuits brought by New York state and others that were previously dismissed on the grounds that their claim of common law nuisance was non-justiciable under the political questions doctrine.  Disagreeing with the lower court, the 2nd Circuit panel said there is no need to defer to the political branches; New York AG Andrew Cuomo called the decision “game-changing.”  (
  • A New York businessman who used fake documents that claimed millions in collateral to defraud major banks out of $292 million was indicted in Manhattan yesterday.  The man, Hassan Nemazee, used some of the money to benefit the Democratic party.  (WSJ)  
  • A bank employee inadvertently sent information about 1,300 accounts to the wrong Gmail address.  The bank is trying to force Google to reveal the identity behind the Gmail account, but wanted its suit sealed.  A federal judge in California refused.  (ABA Journal)


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