Transcript: Profile: Merrill Lynch reaches settlement with New York state attorney general

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Article date:
April 19, 2002
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Profile: Merrill Lynch reaches settlement with New York state attorney general

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Merrill Lynch has agreed to include a warning on its stock recommendations. The warning will advise investors that Merrill Lynch may be doing business with the company whose stock it's rating. The warning is part of a settlement reached by Merrill Lynch with New York state Attorney General Eliot Spitzer. A 10-month investigation by Spitzer' s office found stock research at Merrill Lynch was tainted by the firm's desire to win investment banking business. NPR's Scott Horsley reports.

SCOTT HORSLEY ...

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