Boston, MA 05/21/2014 (wallstreetpr) – A premier in providing financial services, Bank of America Corp (NYSE:BAC) is performing its corporate responsibility effectively. It is taking significant steps for fulfilling its responsibility of addressing the growing societal needs. Bank of America is also set to participate in a series of conferences for discussing its strategies and outlook for coming quarters.
However, presently Bank of America Corp (NYSE:BAC) is facing strong reactions from various law firms. Recently one of the leading law firms of the U.S. has filed a complaint on behalf of its clients alleging the participation of BAC in fraudulent practices. Thus, there is an urgent need to align its disciplined growth with its development strategies for achieving all round results.
Investigation Ripples
One of the leading arbitrations law firm – Klayman & Toskers, P.A. along with Carlo offices has recently announced the filing of a complaint against Merrill Lynch on behalf of a group of investors. The complaint pertains to concealment of risks associated in making investments and practicing fraudulent practices by Merrill Lynch. The firm alleged that Merrill Lynch knowingly withheld information of involvement of high risks in investment in closed-end bond funds in Puerto Rico as wells as in government bonds.
However, the investors were defrauded and persuaded to invest in Puerto Rico government bonds in the guise of low risk investment with high output and income. Bank of America acted in breach of its fiduciary duty and responsibility. Thus, the arbitration firm is acting towards protecting their financial interest.
Contributing Generously Towards A Cause
Bank of America Corp (NYSE:BAC) has announced to bring back its “Express your Thanks” campaign for the third time a row. It is building up a fund of approximately $1.4 million fund since 2012 towards contributing it for the transitional programming designed for the veterans and members. The campaign is aimed for supporting and extending help to the present and former members of military. Bank of America has announced to donate approximately $1 billion towards supporting the Warrior Project® initiated by non-profit organizations. The financial support and funds will be utilized towards supporting the military personnel’s and their families with educational, wellness and employment projects.
