Former Davy shareholders are suing Bank of Ireland following its €427 million takeover of the stockbrokers, claiming the bank failed to satisfy a “substantial” post-acquisition payment due last January. Ailmount Investments, representing 722 investors in Davy prior to the takeover, alleges the bank has “wrongfully and unlawfully” sought to advance “changing and contradictory reasons for non-payment” of the sum alleged to have been agreed as part of the sale finalised in June last year. The action was fast-tracked into the Commercial division of the High Court on Monday on the grounds the value of the claim is at least €1…

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