Bank of America may have hit its first large road block, as hedge fund SRM Global revealed its 5.2 percent stake would vote against the deal with Bank of America and requested an investigation to be done by the SEC. In the filing with the SEC SRM Global states, "We think that the board of the company and its advisers should fully explain to shareholders the reasons why they have agreed to recommend the transaction to shareholders at less than half of the company's book value, and explain what circumstances have changed since the company's [third-quarter 2007] earnings," Bank of America may have to raise their buyout offer or scrap the deal altogether.