A securities class action suit brought by employees at Merrill Lynch may be settled soon, as the investment house as agreed to pay a $75 million settlement.
The suit had reportedly claimed that Merrill had offered its employees stock in the company as part of a retirement plan option, when it was 'imprudent' to do so given its exposure to the subprime mortgage markets and other dubious investments.
APRIL-07-09: Merrill agrees to $75M settlement [BIZJOURNALS: MERRILL LYNCH AGREES $75 MILLION SETTLEMENT]
