Bank of America Merrill Lynch
On Dec. 5, 2008, Merrill Lynch was acquired by Bank of America in a government negotiated deal for $50 billion. Following that acquisition, a group of five pension funds – The State Teachers Retirement System of Ohio; the Ohio Public Employees Retirement System; the Teacher Retirement System of Texas; Holland's Stichting Pensioenfonds Zorg en Welzijn, Europe's second-largest pension fund; and Sweden's Fjarde AP Fondenac – filed a class-action lawsuit against Bank of America Corp., accusing the bank of making untrue statements about the impact of the Merrill Lynch acquisition and misleading shareholders about Merrill's fiscal health.
According to their complaint, the funds lost $274 million from Bank of America investments in the six months ended January 20, 2009.
If you are an individual or institutional investor and have concerns or questions about your Merrill Lynch investments, contact Mark Maddox. We can evaluate your situation to determine if you have a claim.