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Case Status:    SETTLED
On or around 10/26/2007 (Date of order of final judgment)

Filing Date: April 22, 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 Settlement for In re Merrill Lynch Research Reports Securities Litigation, 02 MDL 1484, dated March 19, 2007, this case, In re Merrill Lynch & Co., Inc. Excite@home Research Reports Securities Litigation, 02-CV-3042, 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.

According the Case Management Order #1 entered on December 20, 2002, the Court consolidated several actions on behalf of purchasers of the common stock of At Home Corporation, doing business as Excite@home. The consolidated actions were carried in the Clerk's office and known as the In re Merrill Lynch & Co., Inc. Excite@home Research Reports Securities Litigation, 02-CV-3042 (MP). On March 13, 2003, a Consolidated Amended Class Action Complaint was filed. On December 8, 2003, the defendants filed a motion to dismiss the complaints with prejudice. On June 2, 2006, the Court entered the Minute Order signed by Judge Michael B. Mukasey administratively closing the case pursuant to Memorandum from the Administrative Office of the United States Courts dated June 15th, 1973.

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 to maintain and enhance Merrill Lynch's investment banking relationships with Excite, defendants issued analyst reports with positive ratings on Excite which were materially misleading as they were inconsistent with their own contemporaneous, private adverse assessments of Excite.

The complaint alleges that defendants violated the federal securities laws by issuing analyst reports regarding Excite that recommended the purchase of Excite and which set price targets for Excite common stock which were materially false and misleading and lacked any reasonable factual basis. Primarily, the Complaint alleges that defendants violated sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5 promulgated thereunder. Furthermore, when issuing their Excite reports, defendants failed to disclose significant, material conflicts of interest in their use of Blodget's reputation and his Excite analyst reports to obtain investment banking business for Merrill Lynch. Furthermore, in issuing their Excite reports, in which they were recommending the purchase of Excite stock, defendants failed to disclose material, non-public, adverse information which they possessed about Excite as well as their true opinion about the valuation of Excite.

The complaint further alleges that 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, in which they recommended the purchase of Excite stock. The complaint also alleges that defendants failed to disclose material, non-public, adverse information which they possessed about Excite. Throughout the Class Period, the defendants maintained an "ACCUMULATE/BUY" or "ACCUMULATE/ACCUMULATE" recommendation on Excite in order to obtain and support lucrative financial deals for Merrill Lynch. As a result of defendants' false and misleading analyst reports, Excite'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: ATHM
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-03042
JUDGE: Hon. Loretta A. Preska
DATE FILED: 04/22/2002
CLASS PERIOD START: 08/18/1999
CLASS PERIOD END: 06/20/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (New York, NY)
    825 Third Avenue - 30th Floor, Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (New York, NY), NY 10022
    212.838.7797 212.838.7745 · lawinfo@cmht.com
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
  3. Shapiro Haber & Urmy LLP (Boston)
    75 State Street, Shapiro Haber & Urmy LLP (Boston), MA 02109
    617.439.3939 617.439.0134 · info@shulaw.com
  4. Spector, Roseman & Kodroff (Philadelphia)
    1818 Market Street; Suite 2500, Spector, Roseman & Kodroff (Philadelphia), PA 19103
    215.496.0300 215.496.6610 · classaction@srk-law.com
  5. 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
  6. Zwerling, Schachter, Zwerling & Koppell LLP
    767 Third Avenue , Zwerling, Schachter, Zwerling & Koppell LLP, NY 10017
    ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 02-CV-03042
JUDGE: Hon. Loretta A. Preska
DATE FILED: 03/13/2003
CLASS PERIOD START: 08/18/1999
CLASS PERIOD END: 09/28/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (New York, NY)
    825 Third Avenue - 30th Floor, Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (New York, NY), NY 10022
    212.838.7797 212.838.7745 · lawinfo@cmht.com
  2. 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
  3. Murray, Frank & Sailer LLP
    275 Madison Ave 34th Flr, Murray, Frank & Sailer LLP, NY 10016
    212.682.1818 212.682.1892 · email@murrayfrank.com
  4. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
  5. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  6. 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
  7. Zwerling, Schachter, Zwerling & Koppell LLP
    767 Third Avenue , Zwerling, Schachter, Zwerling & Koppell LLP, NY 10017
    ·
No Document Title Filing Date
No Document Title Filing Date