Administration May 12, 2001

Unilever and Merrill May Settle

December 5, 2001 (PLANSPONSOR.com) - The Unilever Superannuation Fund (USF)'s landmark suit against Merrill Lynch Investment Managers (MLIM) was suspended today, according to a report in the Wall Street Journal.

Reported by

Camilla Klein

According to the paper’s sources, the two parties in the UK case could be discussing a possible settlement.

The consumer giant’s pension fund managers alleged that MLIM was negligent in the management of the group’s £1 billion mandate. USF further charges that the asset management group failed to implement the proper risk controls or provide downside protection.

USF is seeking £130 in damages.

In previous attempts at settlement, the two sides remained several millions pounds apart – from as low as £25 million from Merrill’s side to Unilever’s initial figure of £60 million, according to the WSJ’s sources.