Cohen, Milstein, Hausfeld & Toll Files Class Action Securities Fraud Suit Against Merrill Lynch On Behalf of Investors Who Purchased Quokka Sports, Inc., Securities.Business Editors, Legal Writers WASHINGTON--(BUSINESS WIRE)--Oct. 9, 2002 Please take notice that 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. has filed a securities fraud class action lawsuit class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax in the U.S. 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 persons who purchased the securities of Quokka quokka a small, nocturnal wallaby (Setonyx brachyurus) which is especially sensitive to nutritional myopathy. Called also Rottnest quokka. Sports, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :QKKAQ.PK) during the period from August 23, 1999, through January 9, 2001 (the "Class Period"). The suit names Merrill Lynch & Co., Inc. as a defendant, along with Merrill's former star internet analyst, Henry Blodget. Quokka is not named as a defendant. The complaint asserts securities fraud claims under sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The complaint alleges that as a result of defendants' deceptive and manipulative acts, the market price of Quokka securities was artificially inflated during the Class Period. The complaint alleges that defendants accomplished this by issuing Merrill Lynch analyst reports regarding Quokka that recommended the purchase of Quokka common stock, and set price targets for Quokka common stock, that were materially false and misleading, lacked any reasonable factual basis, and were contrary to the actual beliefs held by the analysts. In addition, the complaint alleges that when issuing their Quokka analyst reports, defendants failed to disclose material conflicts of interest that arose as a result of their use of Blodget's reputation, influence and favorable stock coverage in order to curry favor to seek to gain favor by flattery or attentions. See Favor, n. os> to seek to gain favor by flattery, caresses, kindness, or officious civilities. See also: Curry favor with Internet companies and obtain their investment banking business for Merrill Lynch. According to the complaint, defendants maintained at least an "ACCUMULATE" or a "BUY" recommendation on Quokka throughout the Class Period in order to obtain and support lucrative financial deals for Merrill Lynch. If you are a member of the Class, you may request to serve as a lead plaintiff. The deadline for making such a request is December 2, 2002. If you have questions with regard to this case, your rights or serving as a lead plaintiff, you may contact one of the following: Steven J. Toll, Esq. (stoll@cmht.com) Mary Ann Fink (mfink@cmht.com) Telephone: 888/240-0775 or 202/408-4600 Cohen, Milstein, Hausfeld & Toll, P.L.L.C. 1100 New York Avenue The following roads are named New York Avenue:
West Tower, Suite 500 Washington, DC 20005 The law firm of 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 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. Please visit our website at www.cmht.com. |
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