Sept 5 (Reuters) - A whistleblower complaint has alleged
that Bank of America ( BAC ) shared nonpublic information with
some investors before it sold roughly $200 million worth of
stock for some clients in India, the Wall Street Journal
reported on Thursday.
A Bank of America ( BAC ) spokesperson told Reuters it had found no
evidence to support these claims.
"We take complaints seriously and thoroughly investigate
them," the spokesperson said. "In instances where we conclude
there has been inappropriate behavior, we take disciplinary
action."
The whistleblower's complaint was filed in June, according
to the report.
Sharing nonpublic information ahead of an announcement can
allow some investors to profit from expected price moves. The
practice is illegal in India and several other markets.
(Reporting by Niket Nishant in Bengaluru and Lananh Nguyen in
New York; Editing by Tasim Zahid and Shinjini Ganguli)