Economy

March 25, 2009 7:34 AM

Investor wants BofA chairman ousted over Merrill deal

In a filing with the SEC, Finger Interests contends Bank of America management and its board "acted recklessly and without regard for shareholders" in agreeing to buy Merrill Lynch & Co. last fall after just 48 hours of due diligence. Management and the board also withheld material information about Merrill's deteriorating financial condition during the fourth quarter of last year, the filing said.

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