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Jiao v. Merrill Lynch Pierce, Fenner & Smith, Inc. et al

  1. February 28, 2020

    Merrill Lynch Again Beats Securities Suit Over Reserve

    Investors who accused Merrill Lynch of securities fraud didn't actually lose any money because of misconduct they allege, a California federal judge said Friday, ending for a second time their claims that the investment manager illegally withdrew money from its customer reserve account to execute trades that freed up funds for its own use.

  2. July 18, 2018

    Merrill Lynch Escapes Suit Over Use Of Customer Cash

    A California federal judge Wednesday dismissed a proposed class action alleging Merrill Lynch illegally withdrew money from its customer reserve account to execute trades that freed up funds for its own use, finding the suit is preempted.

  3. May 01, 2017

    Merrill Lynch Calls Customer Cash Use Suit Opportunistic

    Bank of America Corp.'s wealth management unit told a California federal court on Friday to toss a proposed class action alleging that it engaged in complex trades in order to use customer money for its own trading, labeling the suit an opportunistic ploy to capitalize on the company's prior $415 million settlement over the activities.

  4. February 28, 2017

    Merrill Lynch Faces Class Claims Over Customer Cash Use

    Bank of America Corp.'s wealth management unit was hit Tuesday with a proposed class action over complex trades that allowed the firm to use customer money for its own trading, months after it paid $415 million and admitted to wrongdoing over the activities.