YOU ARE HERE: LAT HomeCollectionsMerrill Lynch Co Inc

Merrill Lynch Co Inc

November 2, 2007 | From Times Wire Services
U.S. regulators are probing whether Merrill Lynch & Co. adequately informed investors about losses from sub-prime mortgages before announcing a larger-than-expected $8.4-billion write-down last week, said a person with knowledge of the matter.
October 25, 2007 | Walter Hamilton, Times Staff Writer
Wall Street's pain from the housing slump and credit crunch intensified Wednesday as Bank of America Corp. announced layoffs and Merrill Lynch & Co. recorded $3.4 billion more in mortgage-related losses than it had forecast less than three weeks ago. Merrill's disclosure raised the prospect that investment banks, which seemed a few weeks ago to be getting a handle on the sub-prime crisis, could face further losses on complex mortgage-related securities.
July 18, 2007 | From Times Wire Services
Merrill Lynch & Co. said its second-quarter profit rose 31% as stock-market gains and historically low financing costs spurred more trading, share sales and takeovers. Net income in the second quarter jumped to $2.14 billion, or $2.24 a share, from $1.63 billion, or $1.63, a year earlier. Analysts on average had expected earnings of $2.02 a share. Merrill shares, however, fell $1.19, or 1.4%, to $86.20.
June 20, 2007 | From Times Wires Services
Merrill Lynch & Co. is proceeding with a plan to sell about $800 million of bonds from a money-losing hedge fund run by Bear Stearns Cos., a day after delaying a similar auction, people with knowledge of the offering said. Merrill Lynch, a creditor to the fund, began distributing a list to investors of bonds it may offer in the sale, according to the people familiar with the bond offering.
March 20, 2007 | From Reuters
Investment banks Merrill Lynch & Co. and Credit Suisse Group won a huge victory Monday when a $40-billion class-action lawsuit filed by Enron Corp. investors was blocked by a federal appeals panel in New Orleans. The U.S. Court of Appeals for the 5th Circuit wrote that U.S. District Judge Melinda Harmon's decision to grant class-action status to the case was partly based on legal error regarding the banks' liability, and it sent the lawsuit back to the lower court for reconsideration.
February 1, 2007 | From Bloomberg News
Merrill Lynch & Co. won approval Wednesday of a $40.3-million settlement of three lawsuits over claims it provided misleading analyst research about Internet companies. U.S. District Judge John Keenan in New York approved the deal reached after investors appealed the 2003 dismissal of two of the cases. Keenan also awarded $9 million to lawyers who represented almost 400,000 investors who sued. Investors won 6.
January 25, 2007 | From the Associated Press
Merrill Lynch & Co.'s chief executive, Stanley O'Neal, received $46 million in salary and bonuses in 2006, ranking him the second-highest-paid CEO on Wall Street. The brokerage said O'Neal received $18.5 million in cash as a performance bonus on top of his $700,000 salary, according to a filing with the Securities and Exchange Commission. He also was awarded $26.8 million in stock that vests between 2008 and 2011.
January 6, 2007 | From the Associated Press
A young former Merrill Lynch analyst caught in a sprawling, $7-million insider trading scheme must serve more than three years in prison to show Wall Street that sharing valuable inside secrets will not be met with leniency, a judge said Friday. U.S. District Judge Kenneth M. Karas said he was sending Stanislav Shpigelman, 24, of Brooklyn, N.Y.
December 13, 2006 | From Times Staff and Wire Reports
Orange County on Tuesday fully restored its relationship with Merrill Lynch & Co., the brokerage house blamed in part for the county's 1994 bankruptcy, as the Board of Supervisors adopted a list of financial service providers that included the firm. Merrill was barred from county business after the bankruptcy, caused by the collapse of risky investments that Merrill had sold. In recent years, the company gradually regained the county's trust.
August 24, 2006 | From Reuters
Merrill Lynch & Co. is asking an arbitration panel to excuse it from employing a former broker who successfully sued the company for $2.2 million. Merrill claims it fulfilled its obligations to the former broker, Hydie Sumner, by offering her an associate director position in Oakland, a job it claims she specifically requested but has refused. Sumner, who worked at Merrill from 1991 to 1997, has been seeking admission to the company's Management Assessment Center.
Los Angeles Times Articles