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Markets / Your Money

Judge Dismisses Suits Against Analyst

October 10, 2001|Reuters

A federal judge in Manhattan on Tuesday dismissed eight class-action lawsuits that charged that Morgan Stanley Internet analyst Mary Meeker gave biased advice on stocks.

The claims, which were dismissed with prejudice, can't be refiled. U.S. District Judge Milton Pollack had some cases thrown out in August, but gave the plaintiffs 30 days to file amended pleadings. In the cases dismissed Tuesday, the plaintiffs decided not to refile claims.

Meeker became known as the "Queen of the Internet" for her bullish views on the sector in the late-'90s. But as Internet stocks took a dive, she and rival analysts became targets for disgruntled investors.

Merrill Lynch Internet analyst Henry Blodget was named in an arbitration claim this year that Merrill eventually settled for $400,000.

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