Bank of America Executive Fights Back After Firing

By Rob Copeland and Rachel Louise Ensign

The fired Bank of America executive at the center of a sexual-misconduct probe filed a defamation claim against the bank, according to his attorney.

The claim from Omeed Malik, until January a top figure in the bank's hedge-fund-focused prime brokerage division, asks the Financial Industry Regulatory Authority for a more than $100 million award, the attorney said. Finra arbitrates complaints about the business activities of a brokerage firm.

Mr. Malik's claim isn't public.

John Singer, the attorney for Mr. Malik, said the bank used "false and defamatory language" in public documents about the banker's termination.

In addition, the bank "threatened the employment and livelihood of other employees they interviewed if they did not admit to inappropriate conduct on Mr. Malik's part, which these employees courageously refused to do," Mr. Singer said.

A Bank of America spokesman said: "The bank stands by its decision to terminate Mr. Malik. His claims are without merit and we will defend ourselves in this matter."

The Wall Street Journal earlier reported that Mr. Malik was fired in the wake of complaints from female employees about unwanted advances. Mr. Malik, through an attorney, denied engaging in any sexual harassment.

Write to Rob Copeland at rob.copeland@wsj.com and Rachel Louise Ensign at rachel.ensign@wsj.com

(END) Dow Jones Newswires

April 27, 2018 17:47 ET (21:47 GMT)

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