Merrill Lynch Workers Seek To Unite In ERISA Action

Law360, New York (December 14, 2007, 12:00 AM EST) -- Employees suing Merrill Lynch & Co. Inc. for ERISA violations in the wake of the subprime mortgage industry collapse have called for the consolidation of their eight parallel putative class actions.

In a brief filed with the U.S. District Court for the Southern District of New York on Wednesday, the plaintiffs, who claim the bank breached its fiduciary duties by investing in its own risky stock, told the court consolidation was appropriate and necessary under the circumstances.

The employees, whose pensions were tied up in a...
To view the full article, register now.