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Microcap & Penny Stocks : Rat dog micro-cap picks... -- Ignore unavailable to you. Want to Upgrade?

To: joseffy who wrote (34880)	6/18/2007 1:30:47 PM
From: Bucky Katt	Read Replies (1) \| Respond to of 48461

A giant rip-off & gift to the market?> Investment Banks Shielded From Suit by Top U.S. Court June 18 (Bloomberg) -- The U.S. Supreme Court gave Goldman Sachs Group Inc. and other investment banks a new shield from antitrust claims, throwing out lawsuits that accused the securities industry of rigging 900 initial public offerings. The justices, voting 7-1, today overturned a federal appeals court ruling that had permitted suits against 16 investment banks and institutional investors, a group that also included Credit Suisse Group and Merrill Lynch & Co. The investors were seeking billions of dollars in damages. ``An antitrust action in this context is accompanied by a substantial risk of injury to the securities markets,'' Justice Stephen Breyer wrote for the court. He said a shield was warranted because of the Securities and Exchange Commission's regulation of IPOs. LOL Wall Street's revenue from stock underwriting has climbed an average 13 percent a year since 1995, reaching a record $19 billion in 2006, and is on pace to surpass that figure this year, based on estimates by Bank of America analyst Michael Hecht. Goldman Sachs had the most revenue from the business, $1.47 billion, according to Hecht, followed by Citigroup Inc., UBS AG, Morgan Stanley and Merrill Lynch. Today's ruling is the latest Supreme Court decision to protect companies from class action claims and other lawsuits. The court last month threw out an antitrust suit alleging collusion by the nation's largest phone companies. bloomberg.com