Investor Alert: Glancy Prongay & Murray LLP Commences Investigation on Behalf of Investors Who Purchased Merrill Lynch Strate...
June 23 2016 - 11:11AM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) announces an
investigation on behalf of investors who purchased Merrill Lynch
Strategic Return Notes. Investors who suffered losses on their
investments are encouraged to contact Lesley Portnoy at
888-773-9224, or by email to shareholders@glancylaw.com.
On June 21, 2016, The Wall Street Journal reported that the
Securities and Exchange Commission (“SEC”) is preparing a civil
enforcement action against Merrill Lynch, the brokerage arm of Bank
of America (NYSE: BAC). The action relates to “Strategic Return
Notes” that Merrill Lynch sold in 2010, which, since being sold,
have lost nearly 95% of their value. According to the report, “the
five-year notes lost value rapidly after they were issued, as
market volatility fell and the cost of buying the options upon
which the notes were based rose sharply.” Two former Merrill Lynch
brokers allege that they were never warned that the underlying roll
costs that caused the decline in value could grow so large.
If you purchased Strategic Return Notes, have information or
would like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire,
of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California
90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160623005869/en/
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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