Lentell v. Merrill Lynch & Co., Inc.
United States Court of Appeals for the Second Circuit
396 F.3d 161 (2005)
- Written by Rocco Sainato, JD
Facts
John Lentell (plaintiff), along with several other investors in 24/7 Real Media, Inc. and Interlian, Inc., brought suit against Merrill Lynch & Co., Inc. (defendant) alleging securities fraud. Lentell argued that Merrill’s investment advisors recommended stock in Real Media and Interlian even though Merrill’s analysts did not believe it was a good investment, in the hopes of garnering business from the two companies. The district court dismissed Lentell’s complaint, stating that he did not argue that Merrill’s misrepresentation caused his losses.
Rule of Law
Issue
Holding and Reasoning (Jacobs, J.)
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