Suit Against $3B EMS Sale Targets BofA Merrill Lynch

Law360, New York (March 2, 2011, 4:48 PM EST) -- Bank of America Merrill Lynch unfairly advised Emergency Medical Services Corp.'s board on its sale to Clayton Dubilier & Rice LLC because it simultaneously offered funding to the private equity firm, pension funds claimed Monday in a proposed class action in Delaware.

That dual relationship meant the Bank of America Corp. finance unit was incapable of fairly representing the EMS board in the $3.2 billion sale to Clayton Dubilier, the Cleveland Bakers and Teamsters Pension Fund and two other funds claim in the Delaware Chancery Court....
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