Cohen, Milstein, Hausfeld & Toll, P.L.L.C., Announces Class Action Suit Against Merrill Lynch and Henry Blodget.Business Editors & Legal Writers WASHINGTON--(BUSINESS WIRE)--May 21, 2002 Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. , Milstein, Hausfeld & Toll, P.L.L.C., announces that a securities fraud class action suit has been filed in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. for the Southern District of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of on behalf of purchasers of the common stock of GoTo.com, Inc. ("GoTo," and now known as Overture Services, Inc.) (Nasdaq:OVER) between the period of January 11, 2001, through June 6, 2001 (the "Class Period"), against Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co., Inc., and its internet analyst Henry Blodget Henry Blodget (born 1966) is a former securities analyst who was senior Internet analyst for Merrill Lynch during the dot-com bubble. Blodget received a Bachelor of Arts degree from Yale University and began his career as a freelance journalist and was a proofreader for . Cohen, Milstein, Hausfeld & Toll, P.L.L.C., is also involved in other cases against Merrill Lynch and Blodget on behalf of purchasers of Infospace, Internet Capital Group (ICGE), Aether Systems (AETH), Excite@Home (ATHQE.OB) and 24/7 Real Media, Inc. (TFSM). The Complaint alleges that to maintain and enhance Merrill Lynch's investment banking relationships with GoTo, defendants issued analyst reports with positive ratings on GoTo which were materially misleading as they were inconsistent with their own contemporaneous con·tem·po·ra·ne·ous adj. Originating, existing, or happening during the same period of time: the contemporaneous reigns of two monarchs. See Synonyms at contemporary. , private adverse assessments of GoTo. For example, the very day of the initiation of coverage, Blodget admitted in an e-mail that there was nothing interesting about GoTo except banking fees. The Complaint also describes how defendants made their proposed rating to GoTo more palatable to GoTo management by downgrading a GoTo competitor. However, when defendants learned that GoTo had awarded its underwriting business to another bank, defendants downgraded GoTo in retribution. Cohen, Milstein, Hausfeld & Toll, P.L.L.C., has significant experience in prosecuting investor class actions and actions involving financial fraud. The firm has offices in Washington, D.C., Seattle, Washington  This page is protected from moves until disputes have been resolved on the .The reason for its protection is listed on the protection policy page. , and New York, and is active in major litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. pending in federal and state courts throughout the nation. You may visit our website at www.cmht.com. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen, Milstein, Hausfeld & Toll, P.L.L.C., has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total over a billion dollars. If you purchased GoTo common stock during the period from January 11, 2001, through June 6, 2001, inclusive, you may, no later than July 19, 2002, move to be appointed as a Lead Plaintiff. If you have any questions about this notice or the action, or with regard to your rights as lead plaintiff or as a member of the class, please see contact information below. |
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