{"id":4374,"date":"2007-02-16T10:20:03","date_gmt":"2007-02-16T10:20:03","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/02\/merrill_lynch_settles_class_ac"},"modified":"2022-03-28T13:53:03","modified_gmt":"2022-03-28T18:53:03","slug":"merrill-lynch-settles-class-ac","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-settles-class-ac\/","title":{"rendered":"Merrill Lynch Settles Class Action Lawsuits With Mutual Fund Investors Regarding Analyst Research And Internet Companies"},"content":{"rendered":"<p>Financial management and advisory company Merrill Lynch has settled three class action lawsuits involving 400 investors who claim that the company gave them misleading analyst information regarding Internet companies. The investors are buyers of mutual funds, and they will get about $40 million-6.25% of the original $645 million they had first requested in 2002. The damage amount that will be paid, however, is at the &#8220;higher end of the range of reasonableness of recovery in class actions securities litigation,&#8221; according to Southern District of New York Judge John F. Keenan who approved the settlement agreement He also says that the class has had an &#8220;overwhelmingly positive reaction&#8221; to the settlement that was reached.<\/p>\n<p>The three lawsuits are among several class actions that Merrill Lynch has had to deal with since 2002, ever since New York&#8217;s then-Attorney General Eliot Spitzer investigated an alleged scheme by Merrill Lynch&#8217;s research division to publish misleading or bogus analysis regarding Internet stocks to increase investment banking business. The class action settlements reached earlier this month are the first ones to be approved in connection with the alleged wrongdoing.<\/p>\n<p>Merrill Lynch paid the government $100 million over its alleged actions in 2002. Back then, the company also said it would immediately enact important reforms to further protect its securities research analysts from being influenced unnecessarily by investment banking.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-settles-class-ac\/\"  title=\"Continue Reading Merrill Lynch Settles Class Action Lawsuits With Mutual Fund Investors Regarding Analyst Research And Internet Companies\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Financial management and advisory company Merrill Lynch has settled three class action lawsuits involving 400 investors who claim that the company gave them misleading analyst information regarding Internet companies. The investors are buyers of mutual funds, and they will get about $40 million-6.25% of the original $645 million they had first requested in 2002. The [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3804,3800],"tags":[],"class_list":["post-4374","post","type-post","status-publish","format-standard","hentry","category-class-action-lawsuits","category-merrill-lynch"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Merrill Lynch Settles Class Action Lawsuits With Mutual Fund Investors Regarding Analyst Research And Internet Companies &#8212; Investor Lawyers Blog &#8212; February 16, 2007<\/title>\n<meta name=\"description\" content=\"Financial management and advisory company Merrill Lynch has settled three class action lawsuits involving 400 investors who claim that the company gave &#8212; February 16, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/merrill-lynch-settles-class-ac\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Merrill Lynch Settles Class Action Lawsuits With Mutual Fund Investors Regarding Analyst Research And Internet Companies &#8212; 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