Details of Alex and Ani suit allege BofA reduced company valuation by hundreds of millions

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ALEX AND ANI's lawsuit against Bank of America says that a declared default on a loan is driving the company towards bankruptcy. Above, company Founder Carolyn Rafaelian. / PBN FILE PHOTO/RUPERT WHITELEY
ALEX AND ANI's lawsuit against Bank of America says that a declared default on a loan is driving the company towards bankruptcy. Above, company Founder Carolyn Rafaelian. / PBN FILE PHOTO/RUPERT WHITELEY
CRANSTON – Alex and Ani LLC’s lawsuit filed Thursday against Bank of America N.A. alleged that the bank’s declaration of a default on a loan has caused the valuation of Alex and Ani to decline by several hundred million dollars. The 30-page complaint contains several allegations of sexism, ageism and mismanagement on the part of…

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