Merrill Lynch Can't Shake Suit Over $300M Pension Investment

Law360, New York (August 30, 2012, 8:02 PM EDT) -- A New Jersey court on Wednesday denied Merrill Lynch & Co. Inc.'s bid to escape the state Treasury's suit over a public pension fund's $300 million investment in Merrill Lynch preferred stocks, saying general issues of material fact remained, but let parent company Bank of America Corp. out of the suit.

Rejecting Merrill Lynch's argument that it hadn't breached its contract in either the state's purchase or Merrill Lynch's later conversion of the stocks and hadn't violated accepted accounting principals its financial reporting, Judge Barry P....
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