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To: Box-By-The-Riviera™ who wrote (70665)	5/29/2001 7:10:50 PM
From: long-gone	Respond to of 116762

TUESDAY MAY 29 2001 US banks face huge claims over dot-coms FROM CHRIS AYRES IN NEW YORK WALL STREET banks are facing an avalanche of expensive litigation, with as many as 100 class-action lawsuits, demanding tens of billions of dollars in damages. The banks are being accused by investors of allegedly rigging the flotations of Internet companies during the dot-com boom of the late 1990s. An investigation by The Times has found that 21 separate lawsuits have already been filed against ten different banks in Manhattan federal courts. The lawsuits allege that the flotations of Internet and technology companies including Marketwatch.com, MP3.com, DoubleClick and Ariba were rigged. Securities litigation experts in New York estimate that at least another 60 similar lawsuits are currently being prepared. (cont) thetimes.co.uk