NJ Judge Asks 3rd Circ. To Pick Venue In Short-Sell Suit

Law360, New York (May 24, 2013, 1:48 PM EDT) -- A New Jersey federal judge on Thursday asked the Third Circuit to decide whether a racketeering and securities fraud suit alleging Merrill Lynch & Co. Inc., Knight Capital Americas LP, UBS Securities LLC and others engaged in manipulative naked short-selling belongs in state or federal court.

U.S. District Judge Jose Linares granted a rare interlocutory appeal in certifying to the Third Circuit the remand question sought by shareholders in Escala Group Inc. who alleged the financial giants engaged in illegal and manipulative naked short selling, in...
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