Investor Alert: Glancy Prongay & Murray LLP Commences Investigation on Behalf of Investors Who Purchased Merrill Lynch Strategic Return Notes

LOS ANGELES--(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 [email protected].

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 [email protected], 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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160623005869/en/

Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com

Source: Glancy Prongay & Murray LLP

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