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Author: rigoletto39 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 68  
Subject: Merril-Lynch sued over Blodgett call Date: 7/20/2001 7:29 PM
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It was bound to happen sooner or later:

Lawyer in Blodget Settlement Says More Suits Are Possible

Nowadays, nobody has to take any responsibility, and the motto is "if you screw up, sue somebody".

Short version of the story:

A guy lost $500000 on InfoSpace (INSP), because his Merrill Lynch broker told him not to sell when it was at $60 (now it's $3). The broker said, "well, Blodgett's bullish on it". They all settled for $400000 from Merrill Lynch, claiming that there was a "conflict of interest" between M-L and INSP (there most likely wasn't).

The lawyer is so delighted about this that he's got 3 or 4 other similar suits in the works.
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