Wall St. Firms Sued For Short-Selling Taser Stock

Law360, New York (May 28, 2008, 12:00 AM EDT) -- Shareholders of Taser International Inc. are suing major Wall Street firms over an alleged scheme to short sell the weapons producer's stock and flood the market with counterfeit shares.

The complaint, filed in a Georgia state court, accuses Bank of America Securities LLC, Bear Stearns Securities Corp., Credit Suisse USA Inc., Deutsche Bank Securities Inc.,Goldman Sachs Group Inc., Merrill Lynch, Pierce, Fenner & Smith Inc., Morgan Stanley & Co. Inc. and UBS Securities LLC of a conspiracy involving naked short selling.

A group of three law...
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