Merrill, Others Ask High Court To Resolve Circuit Split

Law360, New York (March 20, 2015, 5:53 PM EDT) -- Merrill Lynch & Co. Inc., Knight Capital Americas LP, UBS Securities LLC and other brokers accused of engaging in manipulative naked short selling have asked the U.S. Supreme Court to resolve a circuit split and overturn a Third Circuit decision to kick the case from federal to state court.

In a petition filed March 17, the brokers told the high court that the case is the “ideal vehicle” for resolving a split over the proper interpretation of Section 27 of the Securities Exchange Act, which provides...
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