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Merrill Lynch Found Liable For $3 Million In Case Involving Faulty Employee Stock Option Advice

Arbitrators have awarded a former technology company employee $3 million after he received negligent advice with respect to the tax consequences of his employee stock options.

One claim was that Merrill misrepresented that its brokers had the expertise to handle such transactions. Observers see this award as one of many to follow.

Source: Wall Street Letter, March 25, 2002

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