Bank of America reveals first quarter losses, legal bill to blame

Bank of America announced a loss of $276 million, with a legal bill of $6 billion

Sure, big litigation settlements can have negative effects on corporate reputation or company morale. But Bank of America’s recent filings show where corporate misdeeds hit the hardest: The company’s quarterly earnings.

Bank of America announced on April 16 that it lost $276 million in the first quarter of 2014. That figure is a far cry from the $1.48 billion profit the company earned during the first quarter of 2013. As a result, the company’s stock fell by 2.9 percent in early trading.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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