Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Friday, February 1, 2008

Massachusetts Sues Merrill Lynch over CDOs Sold to City

The Massachusetts Secretary of State is suing Merrill Lynch in connection with the firm's sale of CDOs to the city of Springfield, charging that it was an unsuitable investment.  Yesterday the firm bought back, at the original sale price of $13.9 million, the CDOs that it sold to Springfield last spring.

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