Merrill Lynch Blasted For High Court Bid In Short-Selling Suit

By Ben Conarck (June 12, 2015, 8:27 PM EDT) -- Shareholders accusing Merrill Lynch, Knight Capital Americas LP and UBS Securities LLC of illegal naked short-selling have told the U.S. Supreme Court that the financial giants were "grossly misleading" in their bid to overturn the Third Circuit's remand of the case to state court.

In a June 5 opposition, Escala Group Inc. investors fought back against the framing of the certiorari petition as a question of whether Section 27 of the Securities Exchange Act of 1934 provides federal jurisdiction over state-law claims establishing liability based on violations of the federal law, calling the premise that their claims were masked as state-law...

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