Merrills has been negotiating with New York state attorney general Eliot Spitzer for several weeks now and a settlement is thought to be close.
Other Wall Street firms will no doubt follow if Merrill settles to avoid the consequences of a trial and bad publicity.
Merrill Settlement Imminent
Reuters reports that Merrill Lynch is expected to settle charges of issuing biased and misleading stock research without delay in order to avoid criminal proceedings. It is thought that the firm will wish to avoid a criminal action at all costs.
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