Comverse's $46M ARS Suit Akin To Nixed Cases, Merrill Says

Law360, New York (June 28, 2012, 3:05 PM EDT) -- An attorney for Bank of America Corp.'s Merrill Lynch & Co. Inc. told a New York state judge Thursday that Comverse Technology Inc.'s $46 million suit over auction-rate securities is no different from a number of cases dismissed by federal courts.

Timothy P. Burke of Bingham McCutchen LLP, who represents Merrill Lynch, told Judge Shirley Werner Kornreich that Comverse's case was indistinguishable from two Second Circuit dismissals, Wilson v. Merrill Lynch in November and Ashland Inc. v. Morgan Stanley & Co. in 2010.

"The allegations in...
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