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Violation Tracker Individual Record

Company: Merrill Lynch
Current Parent Company: Bank of America
Penalty: $475,000,000
Year: 2009
Date: January 16, 2009
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: toxic securities abuses
Mega-Scandal: Toxic Securities
Violation Description: In a case brought by the Ohio AG on behalf of the state teachers retirement system and other investors, Merrill Lynch agreed to pay $475 million to resolve allegations that investors suffered substantial losses when the company wrote down billions of dollars in assets backed by subprime mortgages.
Level of Government: state
Action Type: agency action
Agency: Ohio Attorney General
Civil or Criminal Case: civil
Facility State: Ohio
HQ Country of Current Parent: USA
HQ State of Current Parent: North Carolina
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.