Bank of America under attack from investors


At Bank of America's (BAC) April 29 annual meeting, CEO Kenneth Lewis will be facing a major fight. Led by shareholder Jerry Finger, a growing number of investors are calling for his ouster.

In September, when BOA announced that it was acquiring Merrill Lynch, it seemed as if the Charlotte-based bank might have been getting a great deal at fire-sale prices. In the ensuing months, however, Merrill's toxic assets have dragged both banks down, former Merrill CEO John Thain has fomented executive compensation scandals, and BOA has had to repeatedly borrow from the federal government. To put it mildly, the deal has started to look threadbare.