18 Feb

Merrill Lynch settles 23 class action lawsuits

Merrill Lynch & Co. Inc. will pay $164 million to settle 23 class action suits related to it cover of internet companies. It was alleged that during the dot com boom, Merrill Lynch analysts had conflicts of interests and gave favorable coverage to certain securities in order for the company to land other business. Two class action suits against Merrill Lynch related to this issue remain unsettled.

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