No. of Recommendations: 0
An investor bought into a company, on the strength of Blodget's recommendation. The stock fell, and the guy lost $500,000. He brought an arbitration case before the SEC (I don't know how that rates, in terms of "serious", compared with a standard lawsuit). He claims that Blodget kept his high rating on the stock, even though he should have known it wasn't going to do all that well. The disgruntled investor bought in at around $130; the stock is now around $4.

It looks like the moral is: if you lose money, find someone to sue.
(scroll down about 4 or 5 screens)
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