BofA Hit With ERISA Suits Over Merrill, Countrywide

Law360, New York (February 9, 2009, 12:00 AM EST) -- A Bank of America Corp. employee has filed one of a number of proposed class actions alleging the company failed to properly assess the risks of its mergers last year with Countrywide Financial Corp. and Merrill Lynch & Co. Inc. and should not have encouraged its workers to invest their retirement savings in the company's poorly performing stock.

The suit, brought by employee Lesley Wright on Feb. 5, was one of several filed in the U.S. District Court for the Southern District of New York last...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.