October 19, 2007
Customer Sues Merrill Lynch Over CDO Investments
MetroPCS Communications filed suit in Texas state court charging that its broker, Merrill Lynch, acted improperly in investing about $134 million in risky CDO securities, in violation of its objective to maintain low-risk, liquid investments for its spare cash. Apparently the customer did not sign a predispute arbitration agreement. WSJ, MetroPCS Sues Merrill Over Risky Investment.
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