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Merrill Lynch Class Action Defense Cases—Federal Court Approves $15 Million Settlement Of Class Action Against Merrill Lynch

A class action against Merrill Lynch & Co. alleging that the company provided false research reports on Internet companies ended yesterday when a federal court gave final approval to a settlement of the class action. The class action settlement requires Merrill Lynch to pay $15 million; this is in addition to the $100 million Merrill Lynch agreed to pay to settle a separate action filed by the Attorney General of the State of New York. The class action complaint was filed after the New York A.G.’s investigation into Merrill Lynch became public in 2002.