IN RE MERRILL LYNCH & CO., INC. RESEARCH REPORTS

No. 02 MDL 1484(MP). Nos. 02 CV 6645(MP), 02 CV 9931(MP), 02 CV 6637(MP), 02 CV 9852(MP), 02 CV 7739(MP), 02 CV 3252(MP), 02 CV 3634(MP), 02 CV 7585(MP).

289 F.Supp.2d 416 (2003)

In re MERRILL LYNCH & CO., INC. RESEARCH REPORTS SECURITIES LITIGATION In re Merrill Lynch & Co., Inc. eToys, Inc. Research Reports Securities Litigation In re Merrill Lynch & Co., Inc. Homestore.com Research Reports Securities Litigation In re Merrill Lynch & Co., Inc. iVillage, Inc. Research Reports Securities Litigation In re Merrill Lynch & Co., Inc. Lifeminders Research Reports Securities Litigation In re Merrill Lynch & Co., Inc. LookSmart, Ltd. Research Reports Securities Litigation In re Merrill Lynch & Co., Inc. Openwave Systems, Inc. Research Reports Securities Litigation In re Merrill Lynch & Co., Inc. Pets. com, Inc. Research Reports Securities Litigation In re Merrill Lynch & Co., Inc. Quokka Sports, Inc. Research Reports Securities Litigation

United States District Court, S.D. New York.

October 29, 2003.


Attorney(s) appearing for the Case

Kaplan Fox & Kilsheimer LLP, New York City (Frederic S. Fox, Laurence D. King, Donald R. Hall, New York, NY, of counsel) for plaintiff's liaison counsel.

Finkelstein, Thompson & Loughran, (By Douglas G. Thompson, Donald J. Enright, Conor R. Crowley, Adam T. Savett), Washington, DC, Lead Counsel for the Homestore, iVillage, LookSmart and CoLead Counsel for Quokka Sports Class Member of Plaintiffs' Executive Committee.

Much Shelist Freed Denenberg Ament & Rubenstein, P.C., (By Carol V. Gilden, Joseph D. Ament, Christopher J. Stuart, Michael E. Moskovitz), Chicago, IL, CoLead Counsel for the Quokka Sports Class Member of Plaintiffs' Executive Committee.

Rabin, Murray & Frank LLP, (By Brian P. Murray, Jacqueline Sailer, Eric J. Belfi, Gregory Linkh), New York, NY, Lead Counsel for Openwave Class Co-Chairs of Plaintiffs' Executive Committee.

Cohen, Milstein, Hausfeld & Toll, P.L.L.C., (By Herbert E. Milstein, Steven J. Toll, Joshua S. Devore), Washington, DC, Linda P. Nussbaum, New York, NY, Lead Counsel for Lifeminders Class Co-Chairs of Plaintiffs' Executive Committee.

Weiss & Yourman, (By Joseph H. Weiss, David C. Katz, Jack I. Zick, Richard A Acocelli, Moshe Balsam), New York, NY, Lead Counsel for eToys and Pets.com Class Member of Plaintiffs' Executive Committee.

Shapiro Haber & Urmy LLP, (By Edward F. Haber, Theodore M. Hess-Mahan), Boston, MA, Co-Chairs of Plaintiffs' Executive Committee, of counsel.

Skadden, Arps, Slate, Meager & Flom LLP, (By Jay B. Kasner, Edward J. Yodowitz, Scott D. Musoff, Joanne Gaboriault), New York, NY, for Defendants Merrill Lynch & Co., Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated.

Foley & Lardner, (By Douglas M. Hagerman, Mark H. Carnow, James D. Ossyra), Samuel J. Winer, Washington, D.C., for Defendant Henry Blodget.


DECISION AND ORDER

POLLACK, Senior District Judge.

PREFACE

The plaintiffs in the above-captioned putative class actions would have this Court punish breaches of business ethics by principles applicable at law which did not at the time apply to such conduct. Although apparently aware of the course of the business and the conflicts of interest involved, the public regulators of business conduct failed to formulate pertinent rules directed...

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