US - Five pension funds have filed an amended complaint against Bank of America (BofA) alleging the firm mislead investors in the lead-up to the bank's acquisition of Merrill Lynch.
The complaint alleges that BofA agreed to allow Merrill to dole out some $5.8bn in bonuses, but declined to tell shareholders of the deal. It also claims senior executives at both firms also failed...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
