Merrill Lynch To Settle 401(k) Class Action Lawsuit For $25 Million

Mealey's (June 13, 2017, 11:56 AM EDT) -- MIAMI — Plaintiffs in a class action against Merrill Lynch, Pierce, Fenner & Smith Inc. on June 8 filed an unopposed motion for preliminary approval of a $25 million settlement of a 401(k) lawsuit alleging that Merrill Lynch breached its fiduciary duties by failing to ensure that small retirement plan clients received mutual fund sales discounts (Benjamin Fernandez, et al. v. Merrill Lynch, Pierce, Fenner & Smith Inc., No. 1:15-cv-22782, S.D. Fla.)....