Merrill Lynch Hit With Yet Another Class Action

Law360, New York (December 4, 2007, 12:00 AM EST) -- The fallout from the subprime mortgage crisis shows no sign of letting up for investment bank Merrill Lynch & Co. Inc. The Wall Street firm has been hit with another class action suit alleging the bank misrepresented and failed to disclose facts about its collateralized debt obligations.

In a complaint filed on Tuesday in the U.S. District Court for the Southern District of New York, Merrill Lynch shareholders alleged that the bank did not disclose to investors the true extent of its sub-prime exposure.

As a...
To view the full article, register now.