Five public pension funds are seeking lead status in a class-action suit against Bank of America Corp., alleging that the nation’s largest bank by assets made “untrue statements” in the run-up to its purchase of Merrill Lynch & Co.
This is just another clear sign that nobody from Ken Lewis on down has a clue how to effectively merge a pair of companies the size and scope of Merrill and (BAC). From that fateful day in September when the merger was announced it’s almost been a daily comedy to watch (BAC).
