Merrill Fights To Block La.'s ARS Arbitration Bid

Law360, New York (January 19, 2010, 12:38 PM EST) -- Merrill Lynch & Co. Inc. has blasted a Louisiana state agency's bid to compel arbitration in a fight over the banking giant's marketing of auction rate securities, arguing that the agency gave up its right to arbitration when it filed the suit, now part of a sprawling multidistrict litigation.

In a motion filed Friday in the U.S. District Court for the Southern District of New York, Merrill Lynch claims that under the Financial Industry Regulatory Authority's rules, the Louisiana Stadium and Exposition District, which manages facilities...
To view the full article, register now.