MINNEAPOLIS, Nov. 6, 2007 (PRIME NEWSWIRE) -- Zimmerman Reed law firm is investigating Merrill Lynch & Co., Inc. (NYSE:MER) for potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA"). The investigation follows the SEC's announcement of its inquiry into whether Merrill Lynch made deals to hide its exposure to high-risk mortgage debt, ultimately putting the company's assets and retirement funds at risk.
The focus of the investigation is on investments in Merrill Lynch stock by the Merrill Lynch & Co. 401(k) Savings and Investment Plan. Administrators of the Plan may have breached their duties of loyalty and prudence under ERISA to participants and beneficiaries of the Plan if they failed to manage the assets of the Plan with prudence and loyalty when they invested in Company stock when it was no longer a prudent investment for participants' retirement savings.
Current and former employees of Merrill Lynch, who hold Merrill Lynch stock in the Merrill Lynch & Co., Inc. 401(k) Savings & Investment Plan, may have a claim to recover losses in their retirement investment. To learn more, call 800.960.9614 or visit us online at www.MerrillLawsuit.com.
Zimmerman Reed is a nationally recognized leader in complex and class action litigation and has been appointed as lead attorneys in some of the largest and most complex cases in federal and state courts across the country. The firm was founded in 1983 and has successfully represented millions of consumers and injured individuals in groundbreaking cases involving tobacco, executive compensation, toxic spills, defective drugs and medical devices and securities litigation.