Attention All Pension Funds, Institutional and High-Net Worth Investors Who Purchased or Otherwise Acquired Internet Infrastructure HOLDRs Through Merrill Lynch From February 24, 2000 Through April 8, 2002: Deadline to Opt-Out of the Merrill Lynch Researc
Posted on: Wednesday, 25 April 2007, 15:00 CDT
NEW YORK, April 25, 2007 (PRIME NEWSWIRE) -- The Securities Arbitration Law Firm of Klayman & Toskes, P.A. ("K&T") (http://www.nasd-law.com), representing numerous aggrieved investors throughout the nation, advises all pension funds, institutional and high-net worth investors who are eligible to participate in the Settlement of the Merrill Lynch Research Reports Securities Litigation, Case No. 02 MDL 1484, to explore all of their legal options before the May 18, 2007 opt-out deadline.
Pursuant to the Class Action, Class Members include those investors who suffered losses as a result of their purchase of Internet Infrastructure HOLDRs (AMEX:IIH) through Merrill Lynch, from February 24, 2000 through April 8, 2002. The Class Action alleged that Merrill Lynch issued fraudulent research reports on numerous Internet companies, including Internet Infrastructure HOLDRs, thereby causing injury to the Plaintiffs when the stock price declined.
Based on the Plan of Allocation under the terms of the Proposed Settlement, $7,500,000 will be apportioned to those Class Members who lost money in Internet Infrastructure HOLDRs, during the relevant time period. However, this amount represents just a fraction of the combined capital market losses sustained in Internet Infrastructure HOLDRs.
Accordingly, pension funds, institutional and high-net worth investors who lost $1 Million or more in their Merrill Lynch accounts should contact K&T to discuss the filing of a securities arbitration claim as an alternative means to recover financial losses. Empirical evidence shows that investors may achieve an overall higher rate of recovery by filing an individual securities arbitration claim.
For more information, please contact Jahan K. Manasseh, Esquire of Klayman & Toskes at 888-997-9956, to discuss your legal options and/or the possibility of pursuing an individual securities arbitration claim. You may also visit us on the web at http://www.nasd-law.com.
This news release was distributed by PrimeNewswire, www.primenewswire.com
CONTACT: Klayman & Toskes, P.A. Jahan K. Manasseh, Esquire 888-997-9956 http://www.nasd-law.com
Source: PrimeNewswire
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