Merrill / B of A: No Stay in Delaware

The Delaware Court of Chancery won't stay proceedings in County of York v. Merrill Lynch & Co. in favor of proceedings in the Southern District of New York. The Court found that a year-old SDNY suit against Merrill alleging poor risk management practices was not substantially similar to the County of York's action seeking to block Merrill's merger with B of A. (2008 WL 4824053)