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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Knighty Tin who wrote (167102)5/21/2002 1:15:11 PM
From: Giordano Bruno  Read Replies (2) of 436258
 
Quote of the day: Our integrity in our research was maintained.

Merrill may take $100 mln settlement charge (MER) By Allen Wan
Merrill Lynch (MER) said it may take a charge to cover the cost of a $100 million settlement. "This is a very difficult time and we're happy its over," David Komansky, Merrill chairman and CEO, said at a news conference. He said that analysts will be paid the same, dismissing reports that analyst salaries will be cut as a result of the changes Merrill will make as part of the deal. On the potential for more civil lawsuits, Chief Operating Officer Stan O'Neal, said "We continue to believe we will prevail in thse suits. Our integrity in our research was maintained." The Merrill officials said they don't know if the changes will set a standard for the industry and whether it will impact other banks. Merrill shares were up 2.3 percent, or 97 cents, to $44.35.
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