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.