Merrill Lynch & Co., Inc. : Internet Infrastructure Holdrs Depositary Receipts Securities Litigation
On or around 10/06/2009 (Date of order of final judgment)
Filing Date: August 15, 2001
According to a Press Release dated August 16, 2001 the complaint alleges that the Internet Infrastructure Depositary Receipts were ``basket securities'' whose price was directly related to, and moved with, the price of 20 underlying securities held in the Internet Infrastructure Holdrs trust. The complaint further alleges that defendants violated the federal securities laws by issuing and selling Internet Infrastructure Holdrs Depositary Receipts in an IPO on February 24, 2000, pursuant to a registration statement and prospectus that were materially false and misleading because they failed to disclose that a substantial proportion of the Internet Infrastructure Holdrs trust's initial portfolio consisted of stocks whose prices had been artificially inflated through the use of improper practices relating to their initial public offering, and that they therefore traded at artificially inflated prices.
Company & Securities Information
Defendant: Merrill Lynch & Co., Inc.
Industry: Business Services
Headquarters: United States
Ticker Symbol: IIH
Company Market: American SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Klein, et al. v. Merrill Lynch & Co., Inc., et al.