Investor Too Late To Sue Merrill: Court

Law360, New York (June 19, 2007, 12:00 AM EDT) -- An appeals court has ruled that a shareholder who accused Merrill Lynch & Co. of duping investors into purchasing a certain type of shares did not file his suit before the expiration of the statute of limitations, deeming the claims time-barred.

The U.S. Court of Appeals for the Third Circuit ruled on Monday that Thomas DeBenedictis had both the time and sufficient information to file his claims before the expiration of the statute of limitations.

“The registration statements, certain news articles, and NASD press releases constituted...
To view the full article, register now.
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.