A state judge in Morris County, New Jersey, has dismissed the last defendants in a shareholder suit accusing financial institutions of devaluing a stock through “naked short sales.”

Judge Louis Sceusi, in Manning v. Merrill Lynch, Pierce, Fenner & Smith, granted a motion to dismiss by defendants National Financial Services, E*Trade Capital Markets, Knight Capital Americas and UBS Securities for failure to state a claim, as well as a motion by E*Trade to dismiss for lack of personal jurisdiction.