Susman Godfrey Files Class Action Against Bank of America and Merrill Lynch

Lawyers from Susman Godrey filed a class action lawsuit Thursday on behalf of shareholders against Bank of America and Merrill Lynch, claiming bank officers and directors made false and misleading statements leading up to a Dec. 5, 2008, vote on Bank of America's acquisition of Merrill Lynch.

The complaint, filed in the Federal District Court for the Southern District of New York, alleges Bank of America did not reveal Merrill Lynch's actual financial health at the time of the deal even though both companies knew or should have known of Merrill Lynch's large losses. The defendants concealed billions of dollars of fourth quarter losses from shareholders, according to the lawsuit.

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Lauren Williamson

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