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Merrill to Pay $29.5 Million to Enron Creditors

Stock quotes in this article: MER , BCM , C , JPM  

Merrill Lynch(MER Quote) will pay $29.5 million to settle claims arising from the Enron bankruptcy proceeding.

But the Wall Street firm is still looking at a much bigger payout down the road to settle allegations stemming from a class-action complaint filed by shareholders of the fallen energy trading firm.

Merrill Lynch says it will include the cost of the settlement in its second-quarter earnings. The investment firm is expected to announce earnings sometime in the next two weeks. ...

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