Massachusetts Charges Merrill With Fraud
By George Morcroft – MarketWatch.com (1 Feb 2008)
“This complaint is focused on Merrill Lynch’s sale, through agents Kipper and Choy, of certain esoteric financial instruments known as collateralized debt obligations (CDOs) to the City of Springfield Massachusetts, which were unsuitable for the city and which, within months after the sale, became illiquid and lost almost all of their market value,” the state said in its complaint.
View full Complaint.