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Bank of America

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emails released by a hacker organization Monday accuse the bank of trying to hide information about improper foreclosures, according to news reports.

The group released several e-mails on Monday, which are sporadically available on the site, but their significance is not easy to grasp. A twitter account called Anonymous@OperationLeakS announced the release of the emails late Sunday.

A hacker group known as Anonymous told


the emails "relate to the issue of whether Bank of America has improperly foreclosed on homes." A spokesman for the bank told the news organization the emails were from a former employee of Balboa Insurance, which Bank of America acquired as part of its purchase of Countrywide Financial in 2008 and were not related to foreclosures.

A call to a Bank of America spokesman Monday was not immediately returned.

Bank of America shares were down just over one percent in early trading Monday, roughly even with other big banks like

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Bank of America shares sold off last year on speculation the bank would be embarrassed by email leaks from


, though a report by


last month citing sources familiar with statements by Wikileaks founder Julian Assange suggested Wikileaks

may not have damaging information after all about the bank



Written by Dan Freed in New York


Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.