Despite a 75% fall in the BofA’s share price since the purchase of Merrill Lynch on January 1, and the bank’s failure to quickly disclose massive losses that Merrill was accumulating even as it was paying out billions in bonuses to employees, Bank of America (BAC) shareholders, according to Reuters voted today in favor to elect all 18 of the bank’s nominees for director, including embattled Chief Executive Kenneth Lewis.
A BofA spokesman said it expects to release full results of the annual meeting vote later on Wednesday.
Leave a Reply