Violation Tracker Individual Record
Date:August 7, 2008
Offense Group:financial offenses
Primary Offense:toxic securities abuses
Secondary Offense:False Claims Act and related
Merrill Lynch agreed to return the funds invested by the City of Springfield in Auction Rate Securities. This was in settlement of allegations it misled the investors that the securities were permissable investments under Massachusetts law.
Level of Government:state
Action Type:agency action
Agency:Massachusetts Attorney General
Civil or Criminal Case:civil
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
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