Merrill, RBC Dodge Claims In MuniMae Shareholder MDL

Law360, New York (June 26, 2012, 9:07 PM EDT) -- A Maryland federal judge on Monday dismissed claims in multidistrict litigation alleging Merrill Lynch Pierce Fenner & Smith Inc. and RBC Capital Markets Corp. misled investors in a 2005 securities offering by real estate finance company Municipal Mortgage & Equity LLC.

U.S. District Judge Marvin J. Garbis granted a 2009 motion by Merrill and RBC to toss claims over their role as underwriters in a February 2005 secondary public offering by Municipal Mortgage & Equity, also called MuniMae. The August 2008 MDL claimed Merrill and RBC failed...
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