Stull, Stull & Brody Announces Class Action Against Henry Blodget And Merrill Lynch Relating To CMGI

Market Wire, 20050229

Notice is hereby given that a class action lawsuit was filed on September 10, 2002 in the United States District Court for the Southern District of New York, on behalf of purchasers of the securities of CMGI (Nasdaq: CMGI) between March 23, 1999 and October 6, 2000, inclusive (the "Class Period") against defendants Merrill Lynch & Co., Inc. ("Merrill Lynch") and its former star Internet research analyst, First Vice President Henry M. Blodget ("Blodget"), who are charged with issuing misleading analyst reports about CMGI.

The complaint alleges that Defendants violated the federal securities laws by knowingly issuing false and misleading analyst reports regarding CMGI during the Class Period. Based on e-mails and other internal Merrill Lynch communications, which were made public as a result of the investigation conducted by the New York State Attorney General, the Complaint alleges that Defendants failed to disclose a significant conflict of interest between their investment banking and research departments. Specifically, the Complaint alleges that Henry Blodget and other Merrill Lynch analysts issued very favorable analyst reports regarding CMGI to the public when they allegedly knew that the positive recommendations were unwarranted and false. The Complaint further alleges that, unbeknownst to the investing public, Merrill Lynch's buy recommendations and price targets were driven by its efforts to attract lucrative investment banking business rather than by the companies' fundamental merits.

If you purchased CMGI common stock between March 23, 1999 and October 6, 2000, inclusive, you may, no later than 60 days from August 28, 2002, request the Court appoint you as lead plaintiff.

Alead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Tzivia Brody, Esq. at Stull, Stull & Brody by calling toll-free 1-800-337-4983, or by e-mail at SSBNY@aol.com, or by fax at 212/490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017.