Europe’s largest pension fund sued Bank of America earlier this week in a New York federal court, claiming the bank company intentionally withheld crucial information about its acquisition of Merrill Lynch in 2008.

Stichting Pensioenfonds ABP, which is one of the three largest pension funds in the world, is seeking “compensation for the damages caused by the defendants’ negligent use of materially misleading proxy materials to solicit shareholders votes to approve BofA’s $29.1 billion acquisition of Merrill Lynch,” according to the suit, which was filed in the U.S. District Court for the Southern District of New York.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access