Merrill Can't Ax Fraud Claims In $60M Magnetar MBS Suit

Law360, New York (May 14, 2013, 2:47 PM EDT) -- A German bank can press ahead with allegations Bank of America Corp.'s Merrill Lynch lied about the role hedge fund Magnetar Capital LLC had in shaping a $60 million mortgage-backed transaction, a New York state judge ruled Tuesday.

Judge Jeffrey K. Oing refused during a hearing to dismiss fraud claims against Merrill Lynch, saying that the plaintiffs had included enough allegations to show a possible link between Magnetar's alleged dirty dealings in crafting many doomed securities during the run-up to the financial collapse and Magnetar's and...
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.