Merrill Lynch Settles Another Pension Fund Mismanagement Claim For Millions

As with the Unilever settlement in December, 2001, Merrill Lynch is paying millions to settle a claim brought by J. Sainsbury PLC, which was threatening to sue Merrill for allegedly mismanaging its pension fund.

The company alleged that Merrill failed to meet performance targets, lagged behind the market and was negligent.

Merrill settled without admitting guilt.

Source: Wall Street Journal, August 6, 2002