NASD Loses Bid To Dismiss WorldCom Case

Law360, New York (March 14, 2008, 12:00 AM EDT) -- The National Association of Securities Dealers lost a round when a Florida judge refused to grant NASD's motion to dismiss the long-running case alleging that the regulator illegally touted the purchase of WorldCom Inc. stock in the days leading up to the company's collapse.

In a ruling handed down on March 12, Judge William Zloch of the U.S. District Court for the Southern District of Florida refused to grant NASD's motion to dismiss and upheld a number of other decisions in the case.

Although the court...
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