NEW YORK, Oct. 1, 2002 (PRIMEZONE) -- The law firm of Kirby McInerney & Squire, LLP announced that a New York federal court overseeing a class action alleging price-fixing in the market for initial public offering ("IPO") underwriting fees denied defendants' motion to dismiss. The complaint alleges that defendants conspired to fix at 7% the fees charged by underwriters to sell shares of IPO stock. The class compromises IPO issuer companies who, during the period from 1994 through the present, issued IPO shares in offerings valued at approximately $20-$80 million. Defendants include Merrill Lynch & Co. (NYSE:MER), Credit Suisse First Boston (NYSE:CSR), Morgan Stanley Dean Witter & Co. (NYSE:MWD), Salomon Smith Barney, Inc. (NYSE:C) and twenty-four other underwriters. If you are or believe you may be a member of the putative class, please contact counsel below.
Randall K. Berger, Esq. KIRBY MCINERNEY & SQUIRE, LLP 830 Third Avenue New York, New York 10022 Telephone: (212) 371-6600 Facsimile: (212) 751-2540 E-Mail: rberger@kmslaw.com
Kirby McInerney & Squire, LLP specializes in complex litigation, including antitrust, consumer and securities class actions. The firm's efforts on behalf of clients class actions have resulted in recoveries totaling many hundreds of millions of dollars, and its achievements and quality of service have been chronicled in published decisions.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca