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Rating:Merrill Shelf-Space Suit Dismissed Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, June 13, 2006

Merrill Shelf-Space Suit Dismissed

by: Marie Glancy

Merrill Lynch has won a victory in its battle against investors who charge it had illegal shelf-space agreements with mutual fund companies, reports Reuters. Judge Richard Owen, a U.S. district judge for the southern district of New York, dismissed the case on June 9, it emerged Tuesday.

The investors claim that Merrill did not sufficiently disclose that it accepted money from firms including Dreyfus, Lord Abbett and BlackRock for each client investing in one of their funds. The court ruled, however, that Merrill had no legal obligation to tell investors more than they did, and that the plaintiffs did not establish a clear link between omitted information and the performance of their investments.  

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