- Elpida in Merger Talks with ProMOS, Others
- Singapore in Worst-Ever Recession After Q4 Slump
- Asian Markets Fall on Grim Data, Financials
- BHP Cuts 6,000 Jobs, Takes $1.6 Billion Hit on Mine
- Bank of NY Mellon Profit Falls 88 Percent
- Microsoft Expected to Cut Jobs as Profit Weakens
- Citi Cuts Dividend to One Cent, As Expected
- CSX Profit Falls on Charge, Meets Expectations
- Madoff Investors Likely to See Only a Small Recovery
- Intel Q1 Profits: 'Too Close to Call'
- Mad Mail: Buy Wells Fargo?
- Lightning Round: Monsanto, Weight Watchers, Paychex and More
- Lightning Round OT: USG, ProLogis and More
- Off the Charts: Marathon Oil
- Market Spites Obama's Big Day
- Cramer's 10 Tips for Obama
- Your First Move For Wednesday January 21st
- Web Extra: JNJ, A Healthy Trade?
- Berkshire buys 4.3 million BNSF Corp. shares
- BHP Billiton to shed 6,000 jobs
- Economists see deeper housing woes this year
- Extra, extra! Newspapers print inaugural editions
- SEC chairman Cox resigns
- Merrill Lynch files $15.3B 4Q loss with SEC
- Anguilla offshore manager accused of theft
- Insider Q&A: John Challenger
- Yankee Candle parent to close stores, cut 330 jobs
Text Size 
COLUMBUS, Ohio - The Ohio attorney general's office says the board of the State Teachers Retirement System has approved a $475 million settlement with Merrill Lynch.
The pension fund and other investors in Merrill's stock had filed a class-action lawsuit alleging substantial losses after the company wrote down billions of dollars in assets backed by subprime mortgages beginning in 2007.
The attorney general's office represented the fund's board as the lead plaintiff. In a complaint filed in May 2008, investors alleged that Merrill Lynch artificially inflated the market price of its stock.
Attorney General Richard Cordray said Friday it was not yet possible to determine how much money each member of the class will recover. The settlement must be approved by a U.S. District Court in New York, where the suit was filed.
Print
Email
Data is a real-time snapshot *Data is delayed at least 15 minutes