MERRILL LYNCH & Co. and Attorney General Eliot L. Spitzer buried the hatchet yesterday, as the brokerage firm agreed to pay a million fine to settle allegations that it misled investors with stock market research.
May 21, 2002 at 12:00 AM
1 minute read
MERRILL LYNCH & Co. and Attorney General Eliot L. Spitzer buried the hatchet yesterday, as the brokerage firm agreed to pay a $100 million fine to settle allegations that it misled investors with stock market research.
Merrill Lynch also issued a public apology for the conduct of its Internet stock analysts and agreed to implement several new business practices, including establishing a committee to monitor the firm’s stock ratings.
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