Broker Sues BofA to Pay Legal Fees
From Reuters
Theodore Sihpol, a former Bank of America Corp. broker at the heart of a mutual fund trading probe, has sued the bank in a bid to have it pay his legal costs.
In a complaint filed in Delaware Chancery Court, Sihpol claims that Bank of America should cover his legal fees because company bylaws provide for such payouts.
Bank of America, based in Charlotte, N.C., fired Sihpol last month, shortly after New York Atty. Gen. Eliot Spitzer unveiled a wide-ranging investigation into mutual fund trading that implicated Bank of America.
A Bank of America spokesman declined to comment.
