Some of the investors in the Bank of America are opposing the re-election its director, Chad Gifford to the board of the bank.

The investor, Finger Interests Ltd is against the re-election of Gifford and is urging other investors of BOA to do the same. Finger Interests Ltd is controlled by Jerry Finger who said that Gifford was not able to protect the rights of the shareholders as he approved the acquisition of Merrill Lynch in 2008.

Merrill Lynch has strong investment banking operations around the world and in Europe and Asia it controlled three times the size of market of BOA.

"Rather than exercise judgment and show leadership, Mr. Gifford chose to remain silent in the face of his duty to protect shareholders," said Finger Interests in a filing to the Securities and Exchange Commission on Monday.

Gifford along with BOA CEO Brian Moynihan came to the company as part of Charlotte, banks purchase of FleetBoston Financial.

Finger is also asking the other shareholders to join in its demand to increase the number of shares to 12.8 billion from 11.3 billion. Earlier in year the shareholders already agreed to increase the number of shares to 11.3 billion from 10 billion in order to enable the bank to payback $45 billion bailout money from the government.

Finger interest which has 1.1 million shares expressed disappointment on early repayment of government investment seemed by many as a way to avoid the strict payment restrictions. It also said that the appointment of Moynihan who is an insider to the company is inadequate.