There are signs that Bank of America Corp. (NYSE:BAC) will deliver an encouraging earnings report
on April 20th. But that won't stall the campaign being waged by BofA common
stock shareholder Finger Interests Number One Ltd. to
oust chief
executive Kenneth Lewis (pictured) and two other directors from the board.
"That
won't change the fact that Bank of America has destroyed shareholder
value over the past five years," says Jonathan Finger, a partner in the
firm.
I sat down with Finger on Thursday to discuss his campaign, and we'll
be airing pieces of that video interview at thedeal.com beginning
Friday.
In addition to trying to persuade other shareholders not to reelect Lewis, lead director Temple
Sloane Jr. or assets quality committee chair Jacqueline Ward at BofA's
April 29 shareholder meeting, Finger Interests has also filed a
lawsuit. The suit, filed in U.S. District Court in January, alleges
BofA's board "unlawfully concealed" information prior to the December 5
shareholder vote on the acquisition of Merrill Lynch.
Lewis is taking these actions seriously. He flew to Houston to meet
with Jonathan Finger and his father, Jerry -- a longtime BofA
shareholder and acquaintance of Lewis and former BofA CEO Hugh McColl -- after Finger Interests filed the lawsuit. The meeting, and two
subsequent visits from other BofA executives, obviously didn't temper
the Fingers concerns about the management and direction of BofA.
Jonathan Finger has plenty to say on both fronts, so check back here
tomorrow to hear more. -
Suzanne Stevens
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