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Merrill Lynch Defense Team Settles Class Action Lawsuits For $133 Million

Chad Bray of the Wall Street Journal reports today that a federal court has given final approval to settlement of a class action against Merrill Lynch. The lawsuit alleged that Merrill Lynch and its former top technology-stock analyst, Henry Blodget, issued false or misleading research reports regarding Internet-based companies. The settlement reportedly covers 20 separate class action lawsuits filed against Merrill Lynch in federal court.

Mr. Bray’s article, entitled “Merrill Settlement is Approved,” may be found on page C7 of the September 6, 2007 edition of the Wall Street Journal.