Embattled Merrill Lynch Faces ERISA Action

Law360, New York (December 10, 2007, 12:00 AM EST) -- The subprime mortgage woes continue to take their toll on Merrill Lynch & Co. Inc. Just two days after being tied into a shareholder action, the company became the target of a purported ERISA class action brought by employees with company retirement plans.

The two named plaintiffs, who claim to represent tens of thousands of plan participants, filed the suit Thursday in the U.S. District Court for the Southern District of New York. The suit alleged that the investment bank allowed for “heavy, imprudent investment” of...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.