In the business world, securities fraud is a concern for many companies. Essentially, securities fraud occurs when a false statement is made about a company or its value and others rely on that information. Because of the dangers posed by securities fraud, all businesses should work diligently to be aware of these problems and protect their assets.
There is a history of long running disputes between American International Group and Bank of America. One such litigation is pending in California. These disputes center on defective mortgage-backed securities sold by Bank of America.