A federal judge has dismissed a lawsuit by investors in auction-rate securities against Merrill Lynch & Co. for allegedly manipulating the ARS market.

U.S. District Judge Loretta A. Preska in Manhattan threw out the complaint, saying in part that the investors had failed to adequately demonstrate manipulative conduct by Merrill.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.