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Merrill Lynch must face class action for its role in Zale buyout

2015-10-02 00:26:36| Jewelry - Topix.net

Oct 1 Merrill Lynch must defend its role in the $690 million sale of the Zale Corp jewelry chain after a judge refused on Thursday to dismiss a shareholder class action that alleged the deal short-changed investors. The preliminary ruling by the Delaware Court of Chancery, a premiere venue for shareholder lawsuits, found Merrill Lynch could have aided the Zale board breach their duties to investors.

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