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"Bank Of America Shared Nonpublic Information With Investors In India, Whistleblower Says; Bank Is Investigating Complaint, Which Centers On Three Deals Since 2023" - WSJ

Author: Benzinga Newsdesk | September 05, 2024 02:11pm

https://www.wsj.com/finance/bank-of-america-shared-nonpublic-information-with-investors-in-india-whistleblower-says-8e16deb8?mod=latest_headlines

 

Bank of America has opened an internal investigation following allegations that bankers in Asia shared nonpublic information with investors before the bank sold hundreds of millions of dollars of stock. 

The whistleblower complaint alleged that bankers shared transaction details with investors before a stock sale in India was announced this spring, according to a copy of the complaint reviewed by The Wall Street Journal—potentially enabling the investors to engage in what is known on Wall Street as "front running."

Posted In: BAC INDA

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