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Merrill Faces Class Action Over Subprime Investments

Law360 (October 30, 2007, 12:00 AM EDT) -- Merrill Lynch & Co. Inc. has been hit with a class action lawsuit for allegedly issuing false and misleading statements about the company's investments associated with subprime mortgages.

Coughlin Stoia Geller Rudman & Robbins LLP said on Tuesday that it had filed a lawsuit in the U.S. District Court for the Southern District of New York against Merrill and some of its executives for violations of federal securities laws.

The law firm said Merrill had invested heavily in collateralized debt obligations which generated higher yields in...
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