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Latest Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Dabit Stories

2006-03-21 14:05:00

By Kevin Drawbaugh WASHINGTON (Reuters) - The U.S. Supreme Court on Tuesday ruled unanimously in favor of investment bank Merrill Lynch in a decision limiting shareholders' ability to bring certain class action cases in state courts. The court found that a 1998 law prevents certain kinds of shareholder lawsuits from being brought at the state level, rather than the federal level. "The magnitude of the federal interest in protecting the integrity and efficient operation of the market...


Word of the Day
monteith
  • A large punch-bowl of the eighteenth century, usually of silver and with a movable rim, and decorated with flutings and a scalloped edge. It was also used for cooling and carrying wine-glasses.
  • A kind of cotton handkerchief having white spots on a colored ground, the spots being produced by a chemical which discharges the color.
This word is possibly named after Monteith (Monteigh), 'an eccentric 17th-century Scotsman who wore a cloak scalloped at the hem.'
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