Merrill Blocks La.'s Bid To Arbitrate ARS Spat

Law360, New York (February 9, 2010, 3:24 PM EST) -- Merrill Lynch & Co. Inc. has successfully derailed a Louisiana state agency's bid to compel arbitration in a fight over the banking giant's marketing of auction rate securities following a federal judge's ruling that the agency gave up its right to arbitration when it filed the suit, now part of a sprawling multidistrict litigation.

In an order filed Monday in the U.S. District Court for the Southern District of New York, Judge Loretta Preska agreed with Merrill Lynch's argument that under the Financial Industry Regulatory Authority's...
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