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Case Status:    SETTLED
On or around 11/02/2010 (Date of order of distribution of settlement)

Filing Date: May 10, 2002

On September 5, 2007, the Court issued the Opinion and Order No. 95140. According to the Order, U.S. District Judge John F. Keenan certified the class action and approved the settlement, approved the Plan of Allocation and finalized the award of attorneys’ fees and expenses. On September 19, 2007, the Court entered the Order and Final Judgment for In re Merrill Lynch Research Reports Securities Litigation, 02 MDL 1484.

According to the Notice of Pendency and Proposed Settlement of Class Actions, dated March 19, 2007, for In re Merrill Lynch Research Reports Securities Litigation, 02 MDL 1484, this case, In re Merrill Lynch & Co., Inc. Pets.com, Inc. Research Reports Securities Litigation, 02-CV-3634, is part of a proposed settlement of $125 million in cash. A settlement hearing will be held before the Honorable John F. Keenan, United States District Judge of the Southern District of New York to determine whether the settlement should be approved.

On December 24, 2002, the Court entered the Case Management Order #1. According to the Order, the actions filed on behalf of the common stock of Pets.com, Inc. were consolidated and now carried out under In re Merrill Lynch & Co., Inc. Pets.com, Inc. Research Reports Securities Litigation, 02-CV-3634(MP). On March 14, 2003, an Amended Complaint was filed. On November 10, 2003, the Court entered the Decision and Order No. 21 dismissing the complaints with prejudice for the reason that the Complaints fail to state a claim principally because there are no claims in the Complaints that the alleged misrepresentations or omissions proximately caused the losses claimed. The plaintiff filed a Notice of Appeal and an Amended Notice of Appeal. On August 23, 2006, the Court entered the Mandate of the U.S. Court of Appeals for the Second Circuit withdrawing the appeal from active consideration, without prejudice with leave to reactivate.

In October 2002, the Judicial Panel on Multidistrict Litigation granted the Merrill Lynch Defendants’ motion to transfer all such cases to the Southern District of New York for coordinated pre-trial proceedings. The cases were transferred to the Honorable Milton Pollack, Senior United States District Judge, and were coordinated under the caption In re Merrill Lynch Research Reports Securities Litigation, 02 MDL 1484.

The complaint alleges that Defendants violated the federal securities laws by issuing analyst reports regarding Pets.com that recommended the purchase of Pets.com common stock and which set price targets for Pets.com common stock, which were materially false and misleading and lacked any reasonable factual basis. The complaint further alleges that, when issuing their Pets.com analyst reports, the Defendants failed to disclose significant, material conflicts of interest, which resulted from their use of Blodget's reputation and his ability to issue favorable analyst reports, to obtain investment banking business for Merrill Lynch. Furthermore, in issuing their Pets.com analyst reports, in which they recommended the purchase of Pets.com stock, the Defendants failed to disclose material, non-public, adverse information which they possessed about Pets.com. Throughout the Class Period, the Defendants maintained "ACCUMULATE/ACCUMULATE" or "BUY/BUY" recommendations on Pets.com in order to obtain and support lucrative financial deal for Merrill Lynch. As a result of Defendants' false and misleading analyst reports, Pets.com's common stock traded at artificially inflated levels during the class period.

COMPANY INFORMATION:

Sector: Financial
Industry: Misc. Financial Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: IPET
Company Market: NASDAQ
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.
COURT: S.D. New York
DOCKET #: 02-CV-3634
JUDGE: Hon. Milton Pollack
DATE FILED: 05/10/2002
CLASS PERIOD START: 03/07/2000
CLASS PERIOD END: 11/07/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kaplan Fox & Kilsheimer, LLP (former New York, NY)
    805 Third Avenue, 22nd Floor, Kaplan Fox & Kilsheimer, LLP (former New York, NY), NY 10022
    212.687.1980 212.687.7714 · info@kaplanfox.com
  2. Law Offices of Marc S. Henzel (Bala Cynwyd)
    273 Montgomery Ave. Suite 202, Law Offices of Marc S. Henzel (Bala Cynwyd), PA 19004
    610.660.8000 610.660.8080 · securitiesfraud@comcast.net
  3. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 02-CV-3634
JUDGE: Hon. Milton Pollack
DATE FILED: 03/14/2003
CLASS PERIOD START: 03/07/2000
CLASS PERIOD END: 11/07/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Gardy, LLP (New York)
    212 East 39th Street, Abbey Gardy, LLP (New York), NY 10016
    212.889.3700 · info@abbeygardy.com
  2. Beatie & Osborne LLP
    599 Lexington Avenue, 42nd Floor, Beatie & Osborne LLP, NY 10022
    212.888.9000 212.888.9664 ·
  3. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  4. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC)
    1100 New York Avenue, N.W., Suite 500, West Tower, Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC), DC 20005
    202.408.4600 202.408.4699 · lawinfo@cmht.com
  5. Finkelstein, Thompson & Loughran
    1050 30th Street, NW, Finkelstein, Thompson & Loughran, DC 20007
    202.337.8000 202.337.8090 · contact@ftllaw.com
  6. Kaplan Fox & Kilsheimer, LLP (former New York, NY)
    805 Third Avenue, 22nd Floor, Kaplan Fox & Kilsheimer, LLP (former New York, NY), NY 10022
    212.687.1980 212.687.7714 · info@kaplanfox.com
  7. Much Shelist Freed Denenberg Ament & Rubenstein, PC

    800-470-6824 312-621-1750 ·
  8. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
  9. Rabin & Peckel LLP
    275 Madison Avenue, 34th Floor, Rabin & Peckel LLP, NY 10016
    212.682.1818 212.682.1892 · email@rabinlaw.com
  10. Shapiro Haber & Urmy LLP (Boston)
    75 State Street, Shapiro Haber & Urmy LLP (Boston), MA 02109
    617.439.3939 617.439.0134 · info@shulaw.com
  11. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
  12. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
No Document Title Filing Date