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.
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