Cuomo Fires Shot Across Merrill's Bow

Law360, New York (August 15, 2008, 12:00 AM EDT) -- New York Attorney General Andrew Cuomo has leveled his stiffest warning yet at Merrill Lynch & Co. over its role in the collapse of the auction rate securities market.

In a conference call Friday announcing Wachovia Corp.'s settlement of ARS claims with state and federal regulators, Cuomo said that a lawsuit against Merrill Lynch was “imminent,” Dow Jones Newswires reported.

As other major investment banks, including JP Morgan Chase & Co. and Morgan Stanley, earlier this week reached record settlements with state and federal regulators in...
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