If you had a Merrill Edge retirement account any time between December 15, 2016 and March 15, 2020, a class action may affect your rights
A Federal Court authorized this Notice. This is not a solicitation from a lawyer.
You are not being sued.
SEATTLE, April 28, 2026 /PRNewswire/ -- JND Legal Administration
The United States District Court for the Southern District of New York (the "Court") has certified a Class in Valelly v. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Case No. 1:19-cv-07998-VEC, a lawsuit alleging that Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill") failed to pay a reasonable rate of interest on cash balances in customers' Merrill Edge self-directed retirement accounts automatically swept into deposit accounts at Merrill-affiliated banks through the Retirement Asset Savings Program ("RASP").
Am I part of the Class? You are a Class Member if you fall within the following Court-approved class definition: "all persons who had one or more Merrill Edge retirement accounts with cash balances that were swept pursuant to RASP at any time during the period December 15, 2016 through March 15, 2020."
What are my options? If you are a Class Member, you can: (1) do nothing or (2) ask to be excluded ("Opt-Out") from the Class.
Do Nothing: You will stay in the Class. You will be bound by all orders and judgments in this action, whether favorable or unfavorable. You will keep the possibility of getting money or benefits that may come from a trial or a settlement. But, you will give up your right to sue Merrill separately about the same legal claims in this lawsuit.
Exclude Yourself: If you exclude yourself, you will not be bound by any orders or judgments in this action and will not share in any recovery. But, you will keep your right to sue Merrill separately about the same legal claims in this lawsuit. To exclude yourself, you must send a letter stating that you request to be "excluded from the Class in Valelly v. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Case No. 1:19-cv-07998-VEC." Your request must include your full name, mailing address, email address, telephone number, and your personal signature. Requests on behalf of more than one Class Member will be deemed invalid. Your request must be mailed to Valelly v Merrill Lynch, c/o JND Legal Administration, PO Box 91219, Seattle, WA 98111 and postmarked no later than July 22, 2026.
When is the trial? A jury trial is scheduled to start on October 13, 2026. For updates, please visit www.MLRetirementAccountLitigation.com. The Court appointed Wolf Popper LLP as "Class Counsel" to represent the Class. You do not need to hire your own lawyer because Class Counsel is working on your behalf.
How do I get more information? This Notice summarizes the pending case. For more information, visit www.MLRetirementAccountLitigation.com, which includes a Court-Approved Longform Notice and additional information and court documents, contact the Administrator at (833) 207-0938 or [email protected], or access the Court docket through the Court's Public Access to Court Electronic Records (PACER) system.
PLEASE DO NOT CONTACT THE COURT ABOUT THIS CASE
SOURCE JND Legal Administration
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