A Breach Of Fiduciary Duty At Bank Of America?

School of Management finance professor Mark Williams writes in Forbes about potential negligence by Bank of America during its Merrill Lynch acquisition.

“Regardless of the outcome of investigations into breaches of fiduciary duty, the real loss is that BoA only six months ago was a strong and valuable banking franchise.  If it had not quickly jumped into the ML deal, they would have been well positioned to be a dominant player in today’s banking sector.

“Instead, Bank of American continues to fight for its survival and there is a real chance that it may even need to be nationalized.  That would be a dire day for banking, for America and, unfortunately, for BoA shareholders.”

Contact Mark T. Williams, 617-358-2789, williams@bu.edu

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