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 & 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
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 ViolationsMerrill 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
