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Merrill Lynch & Co., formally Merrill Lynch, Pierce, Fenner & Smith Incorporated, was a publicly-traded American investment bank that existed independently from 1914 until January 2009 before being acquired by Bank of America and rolled into BofA Securities . The firm engaged in prime brokerage and broker-dealer activities and was headquartered ...
15 U.S.C. § 78bb (f) (1) (A) (section 101 (b) of the Securities Litigation Uniform Standards Act of 1998) Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Dabit, 547 U.S. 71 (2006), was a case decided by the Supreme Court of the United States involving the extent to which state law securities fraud class action claims were preempted by the ...
On September 28, 2012, Bank of America settled the class-action lawsuit over the Merrill Lynch acquisition and will pay $2.43 billion. This was one of the first major securities class action lawsuits stemming from the financial crisis of 2007–2008 to settle.
Bank of America took a hit owing to its 2008 acquisition of Merrill Lynch in 2013, when Merrill Lynch agreed to pay $160 million to settle a class-action racial discrimination lawsuit brought by a ...
Ken Lewis. Kenneth D. Lewis (born April 9, 1947) is the former CEO, president, and chairman of Bank of America, the second largest bank in the United States [1] and twelfth largest by total assets in the world. [2] While CEO of Bank of America, Lewis was noted for purchasing the failing companies Countrywide Financial and Merrill Lynch ...
A daily look at legal news and the business of law: Claims That Lewis and Thain Hid Bonuses, Losses Can Proceed The Securities and Exchange Commission's original settlement with Bank of America ...
On August 13, 2008, a New Jersey appeals court rendered a ruling against Merrill Lynch in a lawsuit filed by Darren Kwiatkowski, a gay employee who was called a “stupid fag” by another employee. In August 2013, the company agreed to pay $160 million to settle a class action racism lawsuit brought by a longtime U.S. employee in 2005.
ImClone stock trading case. A U.S. Securities and Exchange Commission and U.S. Attorney probe into trading in the shares of ImClone Systems resulted in a widely publicized criminal case, which resulted in prison terms for businesswoman and television personality Martha Stewart, ImClone CEO Samuel D. Waksal, and Stewart's broker at Merrill Lynch ...