Finger Interests Number One Ltd. is one of a handful of Bank of America Corp. (NYSE:BAC) shareholder groups that have filed suit over the acquisition of Merrill Lynch & Co. In this edition of Inside The Deal, partner Jonathan Finger says the BofA board, led by chief executive Ken Lewis, has destroyed shareholder value over the past five years. As a result, he's urging fellow shareholders to oust Lewis and two other directors at the bank's April 29 annual meeting. He also says BofA withheld information about Merrill Lynch losses prior to the shareholder vote on the deal in December. (For BofA's response to those charges, see the statement below.) See the video below or download it at iTunes. - Suzanne Stevens
Bank of America provided the following statement in response to Jonathan Finger's charges:
"The strategic and financial advantages of the Countrywide and Merrill Lynch acquisitions will soon be apparent. We believe our disclosures for the special shareholders meeting were appropriate and met all legal requirements. The vast majority of talent at Merrill Lynch is staying and synergies between Merrill Lynch and Bank of America platforms are already producing results."
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Supporting your Mission
Tuesday, April 28, 2009 10:49 AM
From:"Mandy MoradHassel"
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To:management@fingerinterests.com
Message contains attachments
B of A Proxy Voting.doc (1313KB)
To: Mr. Jonathan Finger,
I would like to let you know that I am a Canadian Private Investor and had bought 1300 shares of Bank of America last year when those corrupt adviser like S & P Report giving buy signal.
Therefore, I am fully sympathizing with your mission in making efforts of getting ride of some board members and K. Lewis. Accordingly, I have voted my proxy against their recommendation. Please see attached.
Supporting your Mission
Tuesday, April 28, 2009 10:49 AM
From:"Mandy MoradHassel"
Add sender to Contacts
To:management@fingerinterests.com
Message contains attachments
B of A Proxy Voting.doc (1313KB)
To: Mr. Jonathan Finger,
I would like to let you know that I am a Canadian Private Investor and had bought 1300 shares of Bank of America last year when those corrupt adviser like S & P Report giving buy signal.
Therefore, I am fully sympathizing with your mission in making efforts of getting ride of some board members and K. Lewis. Accordingly, I have voted my proxy against their recommendation. Please see attached.
Yours truly,
Mandy MoradHassel