Shareholders suit against BofA reaches class action status

Shareholders suing Bank of America over the Merrill Lynch deal can now move forward as a class action suit.

The suit accuses the bank and various executives of misleading investors, who claim they were not told of Merrill’s losses.

Those losses totaled $15 billion in 2008.

In other Bank of America news, the bank could be selling off more properties than first thought.

Reports Friday indicated the bank was looking for a buyer for the Hearst Tower and the Fifth-Third Center in uptown Charlotte.

Now, a BofA spokeswoman told Bloomberg they were reviewing all of the bank’s properties. However, she said the bank will not consider selling their main corporate offices in Charlotte and Manhattan.