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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
www.thestreet.com/markets/justinlahart/1498017.html

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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