HOUSTON, Oct. 1, 2002 (PRIMEZONE) -- The Emerson Firm, a securities class action trial law firm, announced today that a class action has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of Inktomi Corporation (Nasdaq:INKT) ("Inktomi" or the "Company") publicly traded securities during the period between June 10, 1998 and April 3, 2001, inclusive (the "Class Period"). A copy of the complaint filed in this action is available from the Court or can be obtained by calling the Firm's toll free number below.
The complaint charges Merrill Lynch & Co., Inc. ("Merrill Lynch"), Morgan Stanley Dean Witter & Co., Inc. ("Morgan Stanley"), Henry Blodget and Mary Meeker with issuing misleading analyst reports about Inktomi. Specifically, the complaint alleges that Defendants urged investors to purchase Inktomi stock when defendants knew or should have known that such purchases were not a good investment. The complaint alleges that defendants issued "Buy" recommendations about Inktomi without any rational economic basis; failed to disclose that they were issuing "Buy" recommendations to obtain investment banking business; and concealed significant, material conflicts of interests that prevented them from providing independent objective analysis.
If you bought Inktomi publicly traded securities between June 10, 1998 and April 3, 2001, inclusive, and you wish to serve as lead plaintiff, you must move the Court no later than October 29, 2002. If you are a member of this class, you can join this class action by calling or e-mailing Ms. Tanya Autry in the Investor relations Department of The Emerson Firm. Any member of the purported class may move the Court to serve as lead plaintiff through The Emerson Firm or other counsel of their choice.
The Emerson Firm is a national law firm that represents investors and consumers in class action and corporate governance litigation. The Emerson Firm has substantial experience representing investors in securities fraud class action lawsuits such as this. The firm has offices in Texas and Arkansas, but represents investors throughout the nation. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you are encouraged to call or e-mail the Firm.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.