Bactech Environmental Corp. press release

Notice to Merrill Lynch Customers Who Held $1 Million or More in Low-interest Yielding Accounts

2025-07-11

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Please Contact the Law Firm of KlaymanToskes to Discuss Pursuing A Potential Recovery of Your Sweep Account Losses Through FINRA Arbitration

NEW YORK, NY / ACCESS Newswire/ July 11, 2025 / National investment loss and securities law firm KlaymanToskesurges all Merrill Lynch customers who held large cash positions in low-interest bearing accounts to explore all their legal options, including filing a securities arbitration claim with the Financial Industry Regulatory Authority (FINRA) against Merrill Lynch, a division of Bank of America (NYSE:BAC), for the brokerage firm's placement of investors' accounts into low-yield Bank Deposit Program sweep accounts, earning as little as 0.15%. Investors with $1 million or more in cash who suffered losses of interest income should contact the law firm immediately at 888-997-9956or by email at investigations@klaymantoskes.comfor a free and confidential consultation to discuss potential recovery options.

Investors should know that class-actions may take many years to resolve, and that payouts are generally heavily undervalued. KlaymanToskes previously conducted a detailed study of securities arbitration versus class actionand concluded that Financial Industry Regulatory Authority (FINRA) arbitration claimstraditionally obtain an overall higher rate of recovery as opposed to participating and waiting for any recovery in a class action lawsuit.

KlaymanToskes' investigation found that Merrill Lynch knowingly and intentionally automatically swept clients cash positions into the Merrill Lynch Bank Deposit Program with the knowledge and intent to provide clients with low yielding cash accounts that were 4% to 5% below the going market rate. Once the clients' cash was deposited into the Merrill Lynch Bank Deposit Program paying less than 1%, Merrill Lynch would then loan that money out to customers charging between 5% to 8.5%. Merrill Lynch would then pocket the spread of 4% to 7.5%.

KlaymanToskes found that despite the clients' eligibility and Merrill's access to higher-yield options, Merrill continued to maintain the clients' cash in low-yield sweep accounts for extended periods, failing to act in the customers' best interests. Merrill Lynch allegedly made millions through knowingly and intentionally under paying clients interest on their cash positions so the firm could maximize its profit at the clients expense.

Investors with $1 million or more in cash swept into low-interest accounts at Merrill Lynch and/or any other brokerage firm are encouraged to contact securities attorney Steven D. Toskesat (888) 997-9956or by email at investigations@klaymantoskes.comfor a free and confidential consultation to discuss potential recovery options.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $600 million in Securities Litigation and FINRA Arbitration matters. KlaymanToskes has office locations in California, Florida, Nebraska, New York, and Puerto Rico.

Disclaimer

Attorney advertising. Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices.

Contact

Steven D. Toskes, Esq. KlaymanToskes, P.A. +1 888-997-9956 investigations@klaymantoskes.com

SOURCE: KlaymanToskes, P.A.

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