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Auctionbytes-NewsFlash, Number 131 - August 01, 2001 - ISSN 1539-5065
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eBay Shareholders Sue Morgan Stanley
By Ina Steiner
AuctionBytes.com
August 01, 2001
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Schiffrin & Barroway LLP filed a class action lawsuit against Morgan Stanley Dean Witter & Co. and its Internet analyst Mary Meeker on behalf of all purchasers of the common stock of eBay Inc. (Nasdaq: EBAY) from August 1, 1998 through January 22, 2001. The suit stems from Morgan Stanley analyst Mary Meeker's alleged activities. Morgan Stanley perform both investment banking and research analysis activities, and such firms maintain a "Chinese Wall" between the two functions to ensure that analysts' research and recommendations remain objective and are not influenced by the firm's interest in attracting and retaining investment banking business. "The complaint alleges that throughout the Class Period, the Chinese Wall did not exist between Meeker and Morgan Stanley, which caused class members to suffer millions of dollars in damages." To view a copy of the complaint online, visit http://www.sbclasslaw.com.
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