Merrill's ARS Disclosures To La. Pacific Were Adequate: Judge

Law360, New York (February 17, 2012, 1:46 PM EST) -- A New York federal judge on Wednesday dismissed Louisiana Pacific Corp.'s fraud claims against Merrill Lynch & Co. Inc. over the purchases of $56 million in auction rate securities, ruling that Merrill's disclosures about the risks were adequate.

U.S. District Judge Loretta A. Preska found that Merrill, which is owned by Bank of America Corp., had made clear on its website that "auction failures" were possible after the U.S. Securities and Exchange Commission ordered the financial services company to make such a disclosure in 2006....
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