Merrill Lynch shareholders file suit over BofA buyout Atlanta Business Chronicle

[napi21]

What in the hell is WRONG with these people? Would they rather lose EVERYTHING?

http://www.bizjournals.com/atlanta/stories/2008/09/15/daily62.html?f=et50&ana=e_du

The suit, filed by law firm Murray, Frank & Sailer, says Merrill’s shareholders “have been and will continue to be denied the fair process and arm’s length negotiated terms to which they are entitled in a sale of the company.”

[nadinbrzezinski]

1. Now that is what I call idiots

need to talk to my guy

[thunder rising]

2. Now they know that US Gov would step in and save them.

[BR_Parkway]

3. Wait, they think there were other buyers out there who were willing to pay

that much more than BOA did based on Friday's closing bell? Fuck em then, let them rescind the deal and see what Wall St will pay them. Idiots. All hail the massive righteousness of the free market.

[napi21]

5. That was my first response too! B of A should back out NOW!

If they want to be THAT STUPID, let them all be stupid alone! AND BROKE TOO!

[Warpy]

6. Bank of America offered them the best deal they could possibly get

and if this lawsuit forces BofA to back out of the deal, then these stupid and greedy people are going to be shit out of luck.

[MidwestTransplant]

4. What are they going to say? B of A paid too much?

[TreasonousBastard]

7. Not at all surprising-- shareholder suits are...

pretty common when somone can smell a payoff somewhere. Their lawyers are likely looking at something like a nickel a share to make the suit go away, of which the firm takes four cents. Vultures feed on lawsuits like this, and I wouldn't be surprised if Icahn and some of the vulture funds have their fingers in this pie.

But, that doesn't mean the suit will go anywhere.