Merrill Lynch botched $56M sale of Zip Co shares, lawsuit claims

Ashurst 2021-12-14 10:47 pm By Cindy Cameronne | Sydney

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Two major Zip Co investors have sued Merrill Lynch for allegedly breaching its duties as financial advisor by recommending they sell their shares in the Aussie fintech after September 1 last year, at which point Paypal’s announcement that it would enter the buy now, pay later market had sent Zip’s share price plummeting.

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