We Could Have Told Them So

Stefanie Olsen Staff Writer, CNET News.com August 26, 2002 reports: “A group of investors in women’s Internet media network iVillage has filed a class-action lawsuit against Merrill Lynch and analyst Henry Blodget, its former Internet guru, for securities fraud. The suit alleges that Blodget misled investors with biased reports during the Net’s boom days. The move follows a $100 million settlement between the New York Attorney General’s office and Merrill Lynch, which agreed to pay the settlement and to revamp its research department to resolve charges that it had duped investors by publicly promoting stocks it privately bad-mouthed. “



Ernest Schmatolla is publisher of Lookonline since 1994. It is the longest running fashion site on the Internet.

No Comments Yet

Leave a Reply

Your email address will not be published.