To fight charges that it allowed a hedge fund to trade illegally, Bank of America has hired the New York law firm Wilkie Farr & Gallagher to handle its case.

"We are assisting the independent directors in their investigation to determine whether trading in fund shares, sales and redemptions [was] done in accordance with law and the funds’ policies," the firm’s Burton Leibert told Reuters. In addition, BoA will retain Deloitte & Touche to assess how badly shareholders were affected if the charges are, in fact, true.

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