APG Algemene Pensioen Groep N.V. (‘APG’), a Dutch asset manager, recently took the initiative to start legal proceedings against Bank of America (‘BofA’) in the U.S. on behalf of one of its principals. According to APG BofA withheld material information from its shareholders, amongst which APG’s principal (‘Principal’), as to the merger with Merrill Lynch (‘Merrill’). The complaint was filed on March 16, 2010. By judicial action APG trusts Principal to be able to recover part of the losses it suffered on BofA shares.
