Class Action Suit Filed Against Merrill Lynch For Excite@Home Ratings

Legal Issues

from the going-to-court dept

I’m actually surprised it took this long to get going, but a class-action lawsuit has been filed against Merrill Lynch and Henry “hype ’em up” Blodget for their continued rating of (now out of business) Excite@Home as a good stock to buy – while internally they were trashing it. It’s unclear how much traction such lawsuits will get, but hopefully it will convince some investment banks that they really need to change their practices.