Northern Trust Securities, Inc. has succeeded in obtaining the dismissal of a class action filed against it by Aimis Art Corp. arising out of the sale of auction rate securities, reported Liz McKenzie in her Law360 article entitled “Northern Trust Escapes Investor’s ARS Action.” Aimis filed the lawsuit on September 17, 2008. On September 29, 2008, Northern Trust announced a program through which it would repurchase certain of the auction rate securities. In December 2008, Aimis received the par value of its investment in the auction rate securities. The case was pending in the U. S. District Court for the Southern District of New York.