U.S. Supreme Court Hears Oral Argument In ‘Naked’ Short-Selling Case
(December 11, 2015, 9:10 AM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court questioned whether a securities class action lawsuit alleging that Merrill Lynch, Pierce, Fenner & Smith Inc. and others engaged in an illegal naked short-selling scheme in violation of federal securities law was properly removed from a state court in oral arguments heard Dec. 1 (Merrill Lynch, Pierce, Fenner & Smith Inc., et al. v. Greg Manning, et al., No. 14-1132, U.S. Sup.).