Search for: "Merrill Lynch"
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20 Nov 1:14 pm
... independent channels, warring wirehouses are adding fuel to the fire. Morgan Stanley Smith Barney LLC and Merrill Lynch are going toe-to-toe by offering top reps a recruiting package of up to 330% of annual production. Sources have said that those are the highest levels
ever. But be careful. ... receive. UBS, meanwhile, currently is offering deals in the range of 200% to 220% of trailing 12. Regarding Merrill's
and Morgan Stanley deals, it would take 5 years for the rep to reach the ...
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6 Mar 5:26 am
... settlements. On August 21, 2008, the New York Attorney General announced that it had reached a settlement agreement with Merrill
Lynch for its involvement in certain allegedly wrongful practices relating to ARS. The Settlement called for Merrill Lynch to ... Click here for a copy of the complaint. According to the complaint, Community purchased
approximately $10 million in ARS from Merrill Lynch in 2006. Community owned approximately $9.9
million in ARS when the market collapsed in February 2008. ...
19 Jan 2:05 am
... and many cases will survive the winnowing process of the motions to dismiss. If it is any indication of what may be yet to come, the Merrill Lynch settlements suggest the aggregate settlements of these cases could represent a staggering sum. There
are a couple of ... even to a ruling on the motions to dismiss, might be due to any number of factors, one likely possibility is that Merrill's
new owner, Bank of America, moved quickly to put the litigation in the past. The other interesting thing about ...
15 Jan, 2008 7:11 am
... and subprime lending, the company concealed the true extent of its risk from shareholders (including those who acquired shares of Merrill
Lynch as a result of its acquisition of First Republic Bank). For example, on April 19, 2007, Merrill
Lynch stated that ... States District Court for the Southern District of New York. The plaintiffs in these actions represent only purchasers of
Merrill and Citigroup common stock. The greatest losses related to the subprime debacle, however, have been borne by ...
19 Aug, 2008 3:02 pm
... action pending in United States District Court for the Southern District of New York. The plaintiffs generally assert that Merrill
Lynch failed to disclose the extent of its subprime exposure arising out of its holdings in collateralized debt obligations. In its ... a $4.5
billion write down, its stock price actually rose in response to this disclosure. In addition, Merrill Lynch argues, its general loss in market capitalization value was the result of a general economic downturn and the market wide ...
12 Nov, 2007 4:41 am
... Lynch's $8.4 billion write-down. The derivative action, entitled Arthur v. O'Neal, et al., Case No. 07-CV-9696 ... O'Neal. The derivative
action accuses O'Neal of implementing a strategy whereby Merrill Lynch became the world's leading
underwriter of collateralized debt obligations. The action ... directors of issuing false and misleading public financial statements to conceal the exposures Merrill Lynch faced from this strategy. Based on these allegations, the derivative plaintiff accuses the defendants
...
4 Aug, 2008 9:16 pm
... was brewing with their investments until it was too late for them to take action. Galvin is also accusing Merrill Lynch of pressuring its research analysts, who are supposed to be neutral, into redacting or rewriting any reports that did not ... good" on the sales of the
securities by making restitution to investors that sold their securities at below par. Merrill Lynch
issued a statement expressing disappointment that Massachusetts had filed its complaint. The company maintains that its advisers ...
3 Nov, 2008 11:38 am
... and against Pension Fund of America (PFA). Instituto de Prevision Militar v. Merrill Lynch, ___
F.3d ___, 2008 WL 4723777, *1-*2 ( ... PFA could not account for almost $3 million of the funds plaintiff invested in it through Merrill
Lynch. Id. Defense attorneys moved to dismiss the class action on the grounds that plaintiff's ... appeal is whether [SLUSA] bars [plaintiff]
from pursuing state law claims against Merrill Lynch & Co. and its affiliates for their role in a
fraud committed on [plaintiff] ...
5 Dec, 2008 10:32 pm
... Personnel problems and compliance issues are just two reasons. Also on Monday, Merrill Lynch
severed ties with Rosalie H. Fields, an adviser who also worked at the New ... Fields was one of 900 female brokers that filed a class action lawsuit against Merrill Lynch accusing the firm of gender discrimination. A settlement was reached with almost all of the plaintiffs
... September and is now worth $19.7 billion. Related Web Resources: Heads roll in Merrill's main branch, Investment News, December 2, 2008 ...
30 Jan 2:58 am
... Lynch & Co., Inc. Securities, Derivative and ERISA Litigation, No.07-CV-9633 (S.D.N.Y.)). The Ohio State Teachers Retirement ...
("OSTRS"), represented by the Ohio Attorney General, brought the suit in May 2008, alleging that Merrill Lynch had made misstatements relating to its exposure to collateralized debt obligations and ... 2008. (The press release by the Ohio Attorney General can be
found here.) Additionally, Merrill Lynch announced in its 8‑K, filed on January 16, 2009, that it had
entered ...
2 Sep 2:23 pm
... investor fraud claims were filed as late as last month. Some cases discuss Merrill's involvement in the marketing, underwriting, and
selling of securitizations, or asset-backed securities. ... offering documents connected to asset-backed securities. Teva Pharmaceutical Industries Ltd. v. Merrill Lynch & Co. Inc.: The pharmaceutical company plaintiff contends that it lost $5 ... S.D.N.Y.,
09-cv-00704, 1/28/09 In re: Merrill Lynch & Co. Inc., Auction Rate Securities (ARS) Marketing
Litigation, ...
23 Jan 3:01 am
... America in this time frame knew they were buying an effectively insolvent company, and the damages of the Merrill transaction may be, at
most, to rearrange the form of Bank of America's insolvency -- possibly to its advantage. ( ... available. Contrast that with some of the language contained in the registration
statement itself: The ability of either Bank of America or Merrill Lynch to predict results or the
actual effects of its plans and strategies, or those of the combined company, is subject to ...
6 Mar 12:51 am
... former top executive, Heaton was required to give at least six months' advanced notice before handing in his resignation, the suit contends. In the complaint, Merrill Lynch notes that its former employees will be responsible for performing nearly identical duties in the same
arenas, putting Merrill's own ability to make money with those investments at risk. "The only real difference is that, instead of generating
tens of millions of ...
24 Aug 12:49 pm
... part of the "total mix" of information available to shareholders. In each of the quarterly reports publicly filed by Merrill
Lynch in 2008 - which were part of the Proxy Statement, as incorporated by reference under the SEC rules - ... -end incentive compensation.
There were no media or analyst reports to the contrary. In fact, the incentive compensation that Merrill Lynch actually paid for 2008 was precisely in line with its quarterly accruals and with this widespread and uniform market expectation ...
1 Sep, 2008 3:52 pm
The Securities and Exchange Commission says it has reached a preliminary settlement agreement with Merrill Lynch, Pierce, Fenner & Smith to liquidate about $8.5 billion in auction-rate securities that are still held by ... to cash or money market instruments
even when the investment bank knew that the market was in trouble. This settlement does not exempt Merrill from being named in civil lawsuits
filed by investors seeking restitution for their losses. As part of its agreement with the SEC, ...
14 Nov, 2008 4:29 pm
... Journal Reports. That's not because of a great arrangement. Instead, it's because Merrill brokers were given only three weeks to review the
deal, to interview with competitors, ... .1 billion in cost for 2007. And he's already said that staffers at Merrill Lynch are making a lot more money than staff people at Bank of America ... conservative banking culture. Now competitors out there are paying 150% -200% of
Merrill Lynch brokers' trailing twelve. That's enticing and it ought to continue. Attorneys ...
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18 Feb 3:14 pm
... brokerage. The firm's investment advisers, however, failed to mention that choosing this option-which would direct trades to be executed through Merrill-could allow the company and its investment adviser representatives to receive substantially higher revenues. The SEC also accused Merrill Lynch of neglecting to reveal a similar conflict of interest when it recommended to clients that they
utilize the firm's transition management desk and of ...
10 Apr 6:44 am
... good about himself: Brian Moynihan. Brian Moynihan, 49, is the lawyer put in charge of Merrill Lynch & Co. following the ouster of John Thain, the last chairman and ... effective and the best value" according to a BofA spokesperson, was probably not
the image Merrill Lynch wanted to promote on the heels of the financial meltdown it helped create. If
Moynihan ... counsel, a job Moynihan held for only 43 days before taking over Merrill. Clearly, Moynihan has his supporters both inside and
outside BofA ...
22 Sep 2:26 pm
... not just in their own state but also in the client's state. Per the probe, the task force determined that Merrill did not have a
supervisory system that was designed in a manner that made sure that associates were in compliance with registration requirements. The task force was investigating a tip, provided in
May 2008 by a Merrill Lynch employee, that the company saved money on registration fees by allowing
client associates to register only in their home ...
20 May, 2008 2:54 pm
... allegations that they had published misleading or false recommendations about Internet-based stocks. Merrill Lynch agreed to a $100 million fine in 2002 as part of a settlement deal with the NYAG. ... and made false recommendations to investors about CMGI stock even
though the ex-Merrill Lynch analyst believed that the Internet holding company was facing a liquidity
crisis and ... Interest, SEC.gov, April 28, 2003 Investor's Suit Against Merrill Over Internet Stock Dismissed, New York Law Journal, May 13
...
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