An appeals court threw out two derivative suits over Merrill Lynch’s role in the financial crisis on Tuesday, allowing the company’s parent, Bank of America Corporation, to dodge at least one strain of Merrill-related litigation without resorting to a costly settlement.
In a 10-page summary order, the U.S. Court of Appeals for the Second Circuit affirmed the dismissal of two long-running cases against Merrill Lynch’s former officers and directors over their allegedly risky investments in collateralized debt obligations. The order is a win for BofA, which acquired Merrill in September 2008, and its lawyers at Skadden, Arps, Slate, Meagher & Flom.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
