Mealey's Banking & Finance - 2nd Circuit Affirms Dismissal Of Investor Suit Against Merrill Lynch

NEW YORK - A federal court properly dismissed a shareholder suit against Merrill Lynch alleging securities law violations in connection with the sale of auction-rate securities (ARS), the Second Circuit U.S. Court of Appeals ruled June 25, agreeing that the shareholder's federal, state and common-law claims were not adequately pleaded (In re: Merrill Lynch & Co. Inc., No. 13-1980, 2nd Cir.; 2014 U.S. App. LEXIS 11909).

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