August 13, 2003 |
A federal judge in New York refused Tuesday to revive lawsuits by investors who accused Merrill Lynch & Co. and its former top technology analyst, Henry Blodget, of issuing biased stock research. U.S. District Judge Milton Pollack stuck by his decision of last month in which he dismissed the complaints as he barred amended claims against Blodget and Merrill, the world's largest securities firm.
May 18, 2007 |
In a nod to the growing importance of Internet advertising, WPP Group, the world's second-biggest advertising company, said Thursday that it was buying online ad agency 24/7 Real Media Inc. The $649-million deal underscores how major agencies are scrambling to take the lead in offering online services. Advertisers are expected to raise their online ad spending by 18% this year, faster than any other ad medium, according to market research firm Outsell Inc.
July 2, 2003 |
Merrill Lynch & Co., Goldman Sachs Group Inc., Morgan Stanley and Credit Suisse Group won dismissal Monday of lawsuits accusing them of misleading investors with biased research tailored to win investment banking business. The rulings by two federal judges in New York were the first to address the banks' liability for research since 10 of the largest Wall Street firms agreed in April to pay $1.4 billion to settle similar charges by regulators. U.S.
May 19, 2007 |
Microsoft Corp. said Friday that it would buy online advertising firm AQuantive Inc. for about $6 billion in cash, paying a hefty premium to try to catch up with major ad deals by competitors over the last six weeks. In its largest acquisition ever, Microsoft snapped up the last of the big, independently owned concerns that focus on delivering targeted Web ads. The deal escalated the battle for online advertisers and audiences as Microsoft, Google Inc.
July 3, 2003 |
A federal judge threw out another investor lawsuit against Merrill Lynch & Co. on Wednesday, dealing a further blow to individuals who are suing Wall Street in hopes of recouping bear-market losses. U.S. District Judge Milton Pollack dismissed a class-action lawsuit that alleged conflicts of interest at a Merrill technology fund, saying there was so much media coverage of such problems on Wall Street that investors should have known about them.
August 5, 2004 |
Is the party over -- again? Internet stocks took a big hit Wednesday, accelerating a six-week decline spurred by disappointing earnings, tepid forecasts and growing concern over the price of Google Inc.'s upcoming initial public offering. The slump spread wide: Second-quarter profit shortfalls from online advertising and e-commerce sites such as InterActiveCorp and ValueClick Inc. dragged down Internet icons like EBay Inc., Yahoo Inc. and Amazon.com Inc.