Violation Tracker Individual Record
Company:
Merrill Lynch
Current Parent Company:
Bank of America
Penalty:
$10,000,000
Year:
2012
Date:
March 19, 2012
Offense Group:
employment-related offenses
Primary Offense:
benefit plan administrator violation
Secondary Offense:
pension ERISA violation
Violation Description:
The plaintiffs, participants in the Wal-Mart Profit-Sharing and 401(k) Plan, sued both Wal-Mart and Merrill Lynch, the plan's trustee. The settlement required Wal-Mart to pay $3.5 million and Merrill Lynch $10 million.
Level of Government:
federal
Action Type:
private litigation
Court:
Western District of Missouri
Civil or Criminal Case:
civil
Case ID:
6:08-cv-3109
Case Name:
Braden v. Wal-Mart Stores Inc. et al
Private Lawsuit Resolution Type:
settlement
HQ Country of Parent:
USA
HQ State of Parent:
North Carolina
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
banking
Link to PACER Case Docket (must be logged in):
Link to Archived Court Document:
Source Notes:
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note:
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.
