NJ Goes After Merrill Lynch Over $300M Stock Sale
By Christine Caulfield ( July 29, 2009, 1:14 PM EDT) -- The state of New Jersey has hit Merrill Lynch & Co. Inc. with a lawsuit alleging that the investment bank misrepresented its financial health when it sold $300 million in preferred stock to the state's investment division a year before the firm's takeover by Bank of America Corp....
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