Lawyers for Ken Lewis, the former CEO of Bank of America, said that lawsuits being filed against him accusing him of misleading investors when Bank of America merged with Merrill Lynch would be highly implausible. They stated that these lawsuits should be thrown out of court and not investigated any further.

The filings were in response to civil suits that were brought against Bank of America and Lewis for failing to disclose all bonuses and losses that Merrill Lynch held before closing the deal with Bank of America. These aren’t the only issues that are being held against Lewis either.

BofA and Lewis Looking at Lawsuits

New York Attorney General Andrew Cuomo states that they have evidence that Lewis and other banking execs withheld losses of up to $15 billion at Merrill and an alleged bonus plan for Merrill execs of around $3.6 billion. Cuomo also states that Merrill also overstated its losses to gain a higher payout from the government bailout.

The case is still pending in a Manhattan court but Cuomo stands by his convictions that Lewis withheld vital information in order to make a huge payday even those Lewis states that he would have lost millions if the merger had failed to move forward.