Merrill Lynch, Rating Agencies Freed From ARS Action

Law360, New York (February 11, 2011, 2:20 PM EST) -- A federal judge has tossed a lawsuit against Merrill Lynch & Co. Inc. and credit rating agencies from a multidistrict litigation accusing the investment bank of misleading investors in the sale of risky auction rate securities.

Judge Loretta A. Preska of the U.S. District Court for the Southern District of New York on Wednesday granted motions to dismiss from Merrill Lynch, Moody's Investors Service Inc., Fitch Inc., Deutsche Bank Securities Inc. and Standard & Poor's parent The McGraw-Hill Cos. Inc. from a putative class action filed...
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