Defendant Name:
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Bank of America Corporation
SIC Code:
6021
CUSIP:
06050510
Document Reference:
comp18115
Document Details
Legal Case Name
SEC v. Merrill Lynch, Pierce, Fenner & Smith Incorporated
Document Name
Complaint
Document Date
28-Apr-2003
Document Format
Civil Proceeding
Case Number
03-cv-02941
Federal District Court
New York, Southern District of New York
Allegation Type
Investment Advisers/Investment Companies
Document Summary
According to the SEC: "Merrill Lynch published research reports on two Internet companies that violated antifraud provisions of the federal securities laws, and published research reports on five other Internet companies that expressed views inconsistent with the analysts' privately expressed negative views in violation of NASD's and NYSE's advertising rules. Those rules require that, among other things, published research reports have a reasonable basis, present a fair picture of the investment risks and benefits, and not make exaggerated or unwarranted claims."
