Woori Bank suit against Merrill Lynch dismissed, Reuters reports

theflyonthewall.com

U.S. District Judge Victor Marrero threw out a lawsuit from South Korea's Woori Bank (WF) that accused Bank of America's (BAC) Merrill Lynch unit of misleading investors about the riskiness of collateralized debt obligations, saying the suit had missed a deadline under South Korean law, reports Reuters. The judge said the 2012 lawsuit had been filed after a three-year deadline under South Korean law had expired.

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