ATLANTA, May 3, 2002 (PRIMEZONE) -- Holzer & Holzer announced today that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Internet Capital Group (Nasdaq:ICGE) ("Internet Capital" or the "Company") common stock during the period between August 30, 1999 and November 8, 2000, inclusive (the "Class Period"), against Merrill Lynch & Co. Inc. ("Merrill Lynch") and its former star Internet analyst Henry Blodget ("Blodget") for violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934. A copy of the complaint filed is available from the Court or by contacting Holzer & Holzer (toll-free) at (888) 508-6832 or by sending an e-mail to michaelfisteljr@msn.com.
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, by the issuance of analyst reports regarding Internet Capital which recommended the purchase of Internet Capital common stock and which set price targets for Internet Capital common stock without any reasonable factual basis. Furthermore, the complaint alleges that when issuing their Internet Capital reports, defendants failed to disclose significant, material conflicts of interest which they had, in light of their use of Blodget's reputation and his Internet Capital analyst reports, to obtain investment banking business for Merrill Lynch. The Complaint further alleges that in issuing their Internet Capital reports, in which they were recommending the purchase of Internet Capital stock, defendants failed to disclose material, non-public adverse information which they possessed about Internet Capital as well as their true opinion about Internet Capital.
If you purchased securities in Internet Capital during the Class Period set forth above you may, no later than June 25, 2002, move the Court to serve as a lead plaintiff in the action. In order to serve as a lead plaintiff, however, you must meet certain legal requirements. If you have any questions about your rights with respect to this lawsuit, you may contact Holzer & Holzer, Michael I. Fistel, Jr., Esq. (toll-free) at (888) 508-6832, or inquire via e-mail to michaelfisteljr@msn.com.
Holzer & Holzer has substantial experience representing investors in securities fraud class action lawsuits such as this. Holzer & Holzer is located in Atlanta but represents investors in securities class action lawsuits throughout the nation. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you are encouraged to call the Firm.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca