More BofA Shareholders Join Suit Over Merrill Buy

Law360, New York (May 19, 2010, 7:30 PM EDT) -- Additional shareholders in Bank of America Corp. have joined a suit alleging the company made false and misleading statements during its $50 billion acquisition of Merrill Lynch & Co. Inc. in 2008.

Executives forced through the purchase of Merrill at $29 per share despite Merrill's losing billions of dollars and still paying out bonuses, according to an amended complaint filed Tuesday in the U.S. District Court for the Southern District of New York.

Joel Munoz filed an initial complaint in December, claiming Bank of America, Merrill,...
To view the full article, register now.