BofA Hit With Investor Suit Over Merrill Lynch Deal

Law360, New York (January 22, 2009, 12:00 AM EST) -- A proposed class action has been filed against Bank of America Corp. on behalf of the bank's investors, claiming the company failed to adequately disclose the true risks involved in merging with troubled investment bank Merrill Lynch & Co. Inc.

The suit filed Wednesday in the U.S. District Court for the Southern District of New York alleges that a proxy statement issued by Bank of America to shareholders ahead of the merger vote did not disclose key facts relevant to the merger, particularly information about the...
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