We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Merrill To Pay $59M To Lay Funeral Trust Action To Rest

Law360, New York (February 17, 2012, 5:41 PM EST) -- An Illinois federal judge on Friday approved a $59 million settlement resolving a consolidated class action against Merrill Lynch Bank & Trust Co. accusing it of losing more than $100 million from a trust fund that was meant to pay for funeral costs.

U.S. District Judge G. Patrick Murphy approved an agreement for Merrill, along with other defendants in the suit, to pay $15 million to a group of funeral home directors and $26 million to individuals who bought policies through the failed trust fund, in addition to an $18 million settlement Merrill already paid to the Illinois Department of Insurance...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Attached Documents

Related

Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

Illinois Southern

Nature of Suit

Fraud or Truth-In-Lending

Judge

Subscribers Only

Date Filed

May 22, 2009

Law Firms

Companies

Government Agencies