Judge Queries Del. Court On Merrill Derivative Suit

Law360, New York (March 11, 2010, 1:21 PM EST) -- A federal judge has requested input from the Delaware Supreme Court in a so-called double derivative suit brought by former shareholders of Merrill Lynch & Co. Inc., asking whether plaintiffs must have held stock in both Merrill and buyer Bank of America Corp. to bring their claims.

Judge Jed S. Rakoff issued an order on Monday in the U.S. District Court for the Southern District of New York asking for clarity on the issue in response to the director and officer defendants’ efforts to dismiss the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.