Skadden represented Merrill Lynch in the dismissal of claims brought in New York State Supreme Court by MBIA Inc. alleging that Merrill fraudulently misrepresented the quality of approximately $5.7 billion of CDOs. Skadden previously had secured the dismissal and appellate affirmance in connection with these claims. On July 11, with a motion to amend the complaint and a motion for leave to appeal to the Court of Appeals pending, the action was voluntarily dismissed.
Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates