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Articles Posted in Collateralized Mortgage Obligations

Disgruntled Investors Continue to File Securities Fraud Litigation Against Merrill Lynch Even Eight Months After Its Acquisition by Bank of America Corp.

Published on: September 2, 2009 | by Shepherd Smith Edwards & Kantas, LLP

The plaintiffs of some 166 of the 221 cases filed against Merrill Lynch & Co. since January 1, 2009 are alleging securities fraud-related violations. This means that Bank of America Corp, which acquired the broker-dealer at the beginning of the year, has assumed responsibility for the outcome of these civil cases. Some of these investor fraud claims were filed as late as last month.

Some cases discuss Merrill’s involvement in the marketing, underwriting, and selling of securitizations, or asset-backed securities. Other cases delve into Merrill’s dealings in the auction-rate securities market. A number of the securities fraud cases against Merrill are class action lawsuits. Merrill Lynch is the lead defendant in many of the cases and one of several financial firms named in the other complaints.

Some of the Securities Fraud Cases Against Merrill Lynch:

SEC & FINRA Examine CMO Sales and Marketing Practices

Published on: January 23, 2008 | by Shepherd Smith Edwards & Kantas, LLP

The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have each began their own investigations into the sales and marketing practices of certain collateralized mortgage obligations (CMOs),

FINRA sent more than 12 broker-dealers a sweeps letter requesting more information about: the sales of principals only, interest only, and inverse floater trenches of CMOs and details about actions taking place between June 30, 2006 and July 31, 2007.

FINRA specifically requested: