Merrill Lynch & Co., Inc.

Merrill Lynch & Co., Inc. NYSE: MER has been accused of securities fraud. If you are a current or former employee or are a member of any of Merrill Lynch & Co., Inc. investment plans or profit sharing retirement plans you may be included in this possible Merrill Lynch & Co., Inc. 401K or Employee Retirement Income Security Act (ERISA) class action. If you purchased or held Merrill Lynch & Co., Inc. stock in one of those plans during the periods February 26, 2007 to October 23, 2007, you may have a claim.

Under ERISA, Merrill Lynch & Co., Inc. employees can file a lawsuit against the company for putting stock options at risk. Merrill Lynch & Co., Inc. employees have a claim if they can prove their employer violated its fiduciary duty to its employees. Fiduciary duty refers to a company's responsibility to the people who invest in it. If an employer puts the company's interest ahead of the investors', it has broken its fiduciary duty. A fiduciary is a person that exercises discretion over the management of plan assets or exercises discretionary control over the administration of the plan.

ERISA is a federal law that sets minimum standards for pension and health plans set up by private businesses. ERISA was designed to protect people who participate in employee benefit plans, including employees with stock options in a company. Stock options are a form of compensation in which employees are given the opportunity to purchase shares of the company stock at a certain price.

Merrill Lynch 401k / ERISA Articles

Merrill Lynch Accused of ERISA Violations
Merrill Lynch & Co., Inc. (NYSE: MER) faces at least two lawsuits alleging the company violated the Employee Retirement Income Security Act of 1974 (ERISA). More lawsuits could follow, depending on the outcome of a Securities and Exchange Commission (SEC) investigation into Merill Lynch's activities. Current and former employees of Merrill Lynch who participated in the Merrill Lynch & Co., Inc. 401(k) Savings & Investment Plan may be eligible to file an ERISA claim against the company.

Merrill Lynch ERISA Woes
Merrill Lynch faces a number of class action lawsuits and a Securities and Exchange Commission (SEC) investigation into its subprime mortgage portfolio after the the company announced a significant amount of losses in its third quarter. At least one of the lawsuits was filed on behalf of current and former employees who participated in Merrill Lynch's 401(k) plan, alleging the company violated ERISA laws.

Merrill Lynch Defends Itself Against ERISA Claims
Merrill Lynch ERISA Lawsuit Investigation

Merrill Lynch 401k / ERISA In the News

NOV-5-07: A lawsuit seeking class action status has been filed on behalf of all persons who purchased Merrill Lynch common stock during the class period of February 26, 2007 and October 23, 2007. [CNN MONEY: MERRILL LYNCH]

Register your Merrill Lynch & Co., Inc. 401K / ERISA Complaint

If you have suffered from Merrill Lynch & Co., Inc. 401K plan losses, you may qualify for damages or remedies that may be awarded in a possible Merrill Lynch & Co., Inc. ERISA class action lawsuit. Please fill in our form on the right to submit your complaint and we will have a lawyer review your ERISA complaint.

Maybe it's your stockbroker
Last updated November 22 2007

Reader Comments

Posted by

In just 10/1/08 to 10/8/08 I have lost about 12% of my 401K. In just one week, my contributions lost 1300% of what my contributions were. That's one thousand three hundred percent. YTD, my losses are 68% of my contributions. My personal rate of return is -18.64%

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