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To: Alex who wrote (21940)10/19/1998 12:19:00 PM
From: Giraffe  Respond to of 116764
 
This should give nightmares to the banks and especially to the hedge funds. What if the banks had to report their REAL exposure? It might force them to think twice about entering new deals.

Monday October 19, 11:52 am Eastern Time
BankAmerica sued over hedge fund practices
BALA CYNWYD, Pa., Oct 19 (Reuters) - A shareholder suit has been filed against BankAmerica Corp. in federal court, alleging the company and certain directors made false statements concerning the company's exposure to hedge fund losses, plaintiffs' attorneys said on Monday.

The suit was filed in United States District Court for the Eastern District of New York on behalf of all purchasers of the common stock of BankAmerica Corp.

Lawyers for the firm of Schiffrin Craig & Barroway LLP filed the suit.