SCOTUS Send Merrill Lynch Case to NJ State
Adam Klasfeld
Courthouse News Service, 16 May 2016
Merrill Lynch and other brokerage firms must face a state court case that says illegal naked short sales cost investors more than $800 million, the U.S. Supreme Court ruled Monday.
The shareholders brought their case four years ago in New Jersey over the Fortune 500 memorabilia company Spectrum Group International, then known as Escala Group.