BofA-Merrill Buyout Battle Gets Under Way

Law360, New York (September 28, 2009, 5:22 PM EDT) -- A group of pension funds appointed as lead plaintiff in multidistrict securities litigation against Bank of America Corp. has filed an amended complaint accusing the bank of suppressing billions of dollars in losses that Merrill Lynch & Co. Inc. suffered before the financial giants finalized their $50 billion union.

Not only did BofA fail to tell investors about the losses, it also withheld plans to pay Merrill Lynch executives up to $5.8 billion in bonuses before the deal closed, according to the amended complaint, filed Sept....
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