Bank of America has been under fire today after a “half-baked” $150 million proposal atoning for deception of the SEC in the acquisition of Merill Lynch was accepted. While BofA dodged a major bullet with the Federal Judges acceptance, the situation has not yet come to a close. Former Merrill Lynch & Co. president Greg Fleming came out after more than a year today to declare he is pursuing $20 million he is owed from the company.
Fleming, contributed to the organization of the acquisition of Merrill Lynch to Bank of America Corp. in 2008. Now, over a year later, after the deal has endured much public and legal scrutiny, Fleming is looking to recover a pay out earned via change-in-control provision under his former contract. Fleming, who left his position as a long term Lynch executive for a post at Yale Law will pursue what he is owed through negotiations.
About EQUITIES:
Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.
Sign up for a free one-year subscription
