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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: TFF who started this subject	4/15/2002 9:42:12 AM
From: TFF	of 12617

Merrill, N.Y. Plan Settlement Talks-WSJ NEW YORK (Reuters) - Merrill Lynch & Co. Inc. (NYSE:MER - news) and New York Attorney General Eliot Spitzer had agreed to start talks that could lead to a broad settlement later this week over charges of biased research, the Wall Street Journal reported in its online edition on Monday. The talks were in their formative stages and may not produce anything, the paper reported, citing people with knowledge of the matter. However, senior Merrill officials had privately conceded that the firm may have to pay as much as $100 million in fines and restitution and make substantial changes in its research process to win a quick resolution of the matter, the paper reported. The final agreement Spitzer was seeking with Merrill included three broad provisions, the paper reported. The firm must concede it did something wrong, make substantial changes to its research process and provide some mechanism so that individual investors could recover money they had lost following the firm's research, the Journal said. Merrill Lynch officials were not immediately available for comment.

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