PORTLAND (AP) – A jury on Monday awarded $7.4 million in damages to a former Fairchild Semiconductor executive who blamed the former Fleet Bank’s Private Client Group for causing the loss of his fortune once valued at $27 million in stock and cash.

Darrell Mayeux, who made his nest egg when Fairchild went public in 1999 while he served as vice president of sales and marketing, contended Fleet Bank failed to properly advise him on his assets, particularly after he retired in 2001.

Bank of America, which acquired Fleet, said Mayeux repeatedly ignored advice.

Jurors in Cumberland County Superior Court deliberated more than 11 hours over two days before rendering their verdict Monday afternoon.

Jonathan Piper, Mayeux’s lawyer, said the bank’s biggest failing was in not revisiting Mayeux’s financial arrangement after he retired.

Eventually, his $4 million line of credit went out of sync when the stock’s value dropped, and Fleet responded by selling off stock, causing a downward spiral that eliminated the entire value of Mayeux’s portfolio within a year, Piper said.

Bank of America denied any wrongdoing and said it was considering an appeal.