February 3, 2014
by Cynthia Miley
Detroit on Friday filed a lawsuit in the US Bankruptcy Court for the Eastern District of Michigan seeking to invalidate the $1.44 billion of debt the city sold to finance by establishing "sham" service corporations to facilitate the debt sales, and claiming and that all contracts or obligations ...[read more]
November 22, 2013
by Taylor Gillan
The US Court of Appeals for the Second Circuit on Thursday upheld the dismissal of a lawsuit brought by South Korea's Woori Bank against Bark of America's Merrill Lynch unit. The lawsuit, which concerned losses from USD $143 million of collateralized debt obligations, was dismissed in February by ...[read more]
August 29, 2013
by Sung Un Kim
A class of plaintiffs consisting of around 1,200 African-American financial advisers have reached a $160 million settlement with Merrill Lynch in a racial discrimination lawsuit, according to a plaintiffs' attorney on Wednesday. The settlement has to be approved by the Judge Robert Gettleman for ...[read more]
September 28, 2012
by Michael Haggerson
Bank of America (BOA) announced Friday that it has agreed to pay $2.43 billion to settle a class action lawsuit with investors over its $18.5 billion acquisition of Merrill Lynch in January 2009. Investors alleged that BOA failed to disclose information about Merrill and made misrepresentations ...[read more]
September 1, 2011
by Dwyer Arce
On September 1, 2010, the US Securities and Exchange Commission (SEC) announced that a judge in the US District Court for the Southern District of New York had approved a $150 million fund set up by Bank of America (BOA) in accordance with a settlement agreement reached earlier that year. The SEC ...[read more]
August 13, 2011
by Daniel Richey
A federal appeals court on Friday upheld the conviction of ex-Merrill Lynch executive James Brown stemming from his role in the Enron fraud scandal. Brown was indicted on five counts in 2003 stemming from a 1999 transaction in which Merrill took a $28 million equity interest in a facility of ...[read more]
February 3, 2011
by Dwyer Arce
On February 3, 2010, the New York Office of the Attorney General filed civil charges against Bank of America (BOA), former CEO Ken Lewis, and former CFO Joseph Price, alleging that the bank misled investors in order to acquire financial firm Merrill Lynch. The complaint alleges that Merrill Lynch ...[read more]
September 16, 2010
by Hillary Stemple
The US Department of Justice (DOJ) on Wednesday asked a federal judge to drop fraud and conspiracy charges against a former Merrill Lynch executive accused of taking part in the Enron Nigerian barge scam. James Brown was convicted, along with three other former Merrill Lynch executives in 2004, ...[read more]
February 4, 2010
by Zach Zagger
The New York Office of the Attorney General on Wednesday filed civil charges against Bank of America (BOA), former CEO Ken Lewis, and former CFO Joseph Price, alleging that the bank misled investors in order to acquire financial firm Merrill Lynch. The complaint alleges that Merrill Lynch had ...[read more]
January 13, 2010
by David Manes
The US Securities and Exchange Commission (SEC) filed new charges Tuesday against Bank of America (BOA), alleging that the company failure to disclose to its shareholders extraordinary losses at Merrill Lynch prior to the merger of the two companies. The SEC's complaint charges BOA... ...[read more]

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