Attention All Internet Capital Group Employee Stock Option Plan Participants and Holders of Control and Restricted Internet Capital Group Securities Who Maintained Concentrated Stock Portfolios At Merrill Lynch
Posted on: Wednesday, 2 May 2007, 12:00 CDT
NEW YORK, May 2, 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 Internet Capital Group Employee Stock Option Plan ("ESOP") participants and holders of control and restricted Internet Capital Group securities who maintained accounts at Merrill Lynch, and 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 Capital Group (Nasdaq:ICGE) through Merrill Lynch, from August 30, 1999 through November 8, 2000. The Class Action alleged that Merrill Lynch issued fraudulent research reports on numerous Internet companies, including Internet Capital Group, thereby causing injury to the Plaintiffs when the stock price declined. Because of Merrill Lynch's favorable research ratings, many investors who held large, concentrated positions in Internet Capital Group were never advised that they could protect or hedge the value of their portfolio, as this would, in effect, cap the upside potential of the stock. Further, many ESOP participants and holders of control and restricted Internet Capital Group securities were completely unaware that Merrill Lynch knew of and had available risk management strategies to protect their concentrated stock portfolios, until they could be broadly diversified.
Accordingly, Internet Capital Group ESOP participants, as well as holders of control and restricted Internet Capital Group securities should contact K&T to discuss the filing of a securities arbitration claim as an alternative means to recover their 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 www.nasd-law.com
Source: PrimeNewswire
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