Judge Snips Dow Corning MDL Claims Over Merrill ARS

Law360, New York (March 30, 2011, 9:37 PM EDT) -- A federal judge in New York trimmed Dow Corning Corp.'s suit against Merrill Lynch & Co. Inc. on Wednesday, part of a multidistrict litigation accusing Merrill of misleading investors in the sale of risky auction rate securities.

Judge Loretta A. Preska of the U.S. District Court for the Southern District of New York dismissed claims of breach of fiduciary duty and negligent misrepresentation but allowed federal securities and Michigan securities law claims, as well as common law fraud claims, to continue.

Judge Preska has dismissed several...
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