We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

ARS Action Against Failed Student Lender Tossed

Law360 (February 17, 2011, 6:49 PM EST) -- A federal judge on Thursday dismissed a class action against executives of defunct student lender MRU Holdings Inc., finding that the executives and MRU's underwriters properly disclosed the risks of auction rate securities prior to the market and the lender's collapse.

Judge Richard M. Berman of the U.S. District Court for the Southern District of New York ruled that the executives and investment bank Merrill Lynch & Co. Inc. provided sufficient information regarding the risks of the ARS market, which MRU used to securitize student loans,...
To view the full article, register now.




Case Information

Case Title

In Re: MRU Holdings Securities Litigation

Case Number



New York Southern

Nature of Suit



Richard M. Berman

Date Filed

April 15, 2009

Law Firms


Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.