Market Overview

Fox Business Network: Analyst Mike Mayo Dialed Wrong Number For Bank of America Conference Call

FOX Business Network Senior Correspondent Charlie Gasparino reports that when CLSA analyst Mike Mayo dialed into the Bank of America conference call Tuesday, he “didn't call a special telephone number reserved for analysts so they could ask company officials questions about the bank's third-quarter results.” Mayo had issued a controversial note claiming to be shut out of the conference call, but people at Bank of America are saying Mayo “dialed the wrong telephone number, one that was reserved for the public to listen in but not to ask questions.” Excerpts from the report are below, courtesy of Fox Business Network.

On whether CLSA analyst Mike Mayo called the wrong number to dial into the Bank of America conference call:

“Mayo issued a controversial note claiming to be shut out of the conference call because of his negative coverage of the Bank of America's stock. Sources tell the FOX Business Network that Mayo didn't call a special telephone number reserved for analysts so they could ask company officials questions about the bank's third-quarter results. People at Bank of America are now telling rival analysts that Mayo wasn't shut out of the call, but rather, he dialed the wrong telephone number, one that was reserved for the public to listen in but not to ask questions. Bank of America ‘is confirming the story with institutional investors who were concerned that a prominent analyst was shut out of the call and prevented from asking management tough questions,' said one Wall Street executive with direct knowledge of the matter. ‘But he called the wrong number. D'oh.' Neither Mayo nor a Bank of America spokesman was available for comment.”

Posted-In: CLSA Mike MayoNews Management Global Media

 

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