Merrill Moves To Dismiss ARS Complaint From MDL

Law360, New York (November 19, 2009, 4:30 PM EST) -- Merrill Lynch Pierce Fenner & Smith Inc. has asked a judge to dismiss a complaint in the multidistrict litigation over auction rate securities, arguing that Community Trust Bank Inc.'s allegation that Merrill Lynch surreptitiously manipulated the ARS market doesn't hold water.

Merrill Lynch filed its motion to dismiss Pikesville, Ky.-based Community Trust Bank's second amended complaint in the U.S. District Court for the Southern District of New York on Wednesday.

Community Trust Bank filed its second amended complaint (the target of Merrill's dismissal bid) on Oct....
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