Supreme Court Denies Petition To Hear Merrill Lynch Case

Law360, New York (October 12, 2005, 12:00 AM EDT) -- The Supreme Court has denied a petition for a writ of certiorari that would have reinstated a class action lawsuit alleging that Merrill Lynch and one of its analysts misled investors.

The plaintiffs asked the court to review the case as a means to clarify securities fraud law.

The case was originally filed by shareholders who claimed that Merrill Lynch and analyst Henry M. Blodget misled them by issuing positive statements and recommendations about Internet companies 24/7 Real Media and Interliant.

Shareholders filed the writ of...
To view the full article, register now.