Hi Linda:
You and BF are masters of old news. Eight lawsuits filed against Mary Meeker "by disgruntled shareholders" were dismissed "with prejudice" last October. The plaintiffs were lucky to escape without being countersued by MSDW, imho.
>>Eight class action lawsuits filed against financial services company Morgan Stanley and analyst Mary Meeker have been dismissed by a federal district court judge. According to Morgan Stanley, the suits were dismissed "with prejudice," and cannot be refiled.
As the financial markets have tumbled since the Nasdaq collapse in March 2000, numerous shareholder lawsuits have been filed against financial analysts who touted Internet stocks.
A spokesperson for Morgan Stanley declined to give the details of the lawsuits against the company and Meeker, but according to wire reports, they were filed by disgruntled shareholders of Amazon.com and Ebay.
Judge Milton Pollack, senior judge of the federal district court for the Southern District of New York, described the original lawsuits as "gross and unrestrained," Morgan Stanley said.
On August 21, Pollack gave plaintiffs 30 days to refile their complaints, but the parties did not. In an agreement between Morgan Stanley and plaintiffs, the company and Meeker agreed not to seek sanctions against plaintiffs and their attorneys.
"This order should dissuade others from filing spurious investor claims simply to grab headlines, particularly now that they will be faced with the prospect of judicial sanctions if they do," a Morgan Stanley spokesperson said today.<<
bizreport.com |
