Oow, this could get ugly.
Bloomberg reports that former Merrill Lynch exec Robert McCann has sued Bank of America to get out from under a non-compete clause. McCann also claims he did not resign as announced back in January, but instead was terminated without cause. The longtime ML vet who signaled his intent to bolt from BofA almost immediately after the bank closed on a deal for the brokerage giant also says that BofA has failed to purchase $18m. worth of stock as required by his separation agreement.
McCann filed his suit in NY State Supreme Court. He’ll get his pound of flesh in travel time alone.
