Merrill Lynch has faced several accusations of securities fraud, and has reached settlements in some of those cases.
In 2011, Merrill Lynch agreed to pay $10 million to settle charges that it misused private information of customers, charged clients trading fees without their permission or knowledge, and marked up the fees of some wealthy customers.
In another instance of Merrill Lynch fraud, the company in 2011 settled a lawsuit with the state of New York’s public worker pension fund for $4.25 million. The suit alleged Merrill Lynch misrepresented the value of some stocks during the subprime mortgage crisis, which cost the pension fund millions of dollars.
Also in 2011, a lawsuit claims Merrill Lynch sold products tied to Bernard Madoff’s massive Ponzi scheme. That suit seeks the return of $16 million in transfers related to the Madoff scandal.
If you were hurt in one of these situations, or another instance of Merrill Lynch fraud, call to set up an appointment with a Merrill Lynch lawyer at our firm. To explore your options for a possible Merrill Lynch lawsuit or arbitration.