Cauley Geller Bowman & Coates, LLP Announces Class Action Lawsuit Against Merrill Lynch, Pierce, Fenner & Smith, Inc. on Behalf of B2B internet Holdrs Depositary Receipts Purchasers

Apr 18, 2001, 01:00 ET from Cauley Geller Bowman & Coates, LLP

    LITTLE ROCK, Ark., April 18 /PRNewswire/ -- The Law Firm of Cauley Geller
 Bowman & Coates, LLP announced today that it has filed a class action in the
 United States District Court for the Southern District of New York on behalf
 of all purchasers of the B2B internet Holdrs Depositary Receipts (Amex:   BHH)
 between February 23, 2000 and April 9, 2001, inclusive (the "Class Period").
     The complaint charges that Merrill Lynch, Pierce, Fenner & Smith
 Incorporated, Merrill Lynch & Co., Ahmass L. Fakahany, John L. Steffens, E.
 Stanley O'Neal and George A. Schieren violated Sections 11, 12 and 15 of the
 Securities Act of 1933 and seeks to recover damages.
     The complaint alleges that the B2B Internet Holdrs depositary receipts
 were "basket securities" whose price was directly related to, and moved with,
 the price of 20 underlying securities held in the B2B Internet Holdrs trust.
 The complaint further alleges that defendants violated the federal securities
 laws by issuing and selling B2B Internet Holdrs Depositary Receipts, in an IPO
 on February 23, 2000, pursuant to a registration statement and prospectus that
 were materially false and misleading because they failed to disclose that a
 substantial proportion of the B2B Internet Holdrs trust's initial portfolio
 consisted of stocks whose prices had been artificially inflated through the
 use of improper practices relating to their initial public offering, and that
 they therefore traded at artificially inflated prices.  The price of B2B
 Internet Holdrs has fallen from a March 14, 2000 high of $108 per B2B Internet
 Holdr to a low of $4.26 on April 3, 2001.
     If you bought B2B Internet Holdrs Depositary Receipts between February 23,
 2000 and April 9, 2001, inclusive, you may, no later than June 4, 2001 request
 that the Court appoint you as lead plaintiff.  A lead 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 Cauley Geller Bowman & Coates, LLP, or other counsel of your choice, to
 serve as your counsel in this action.
     Cauley Geller Bowman & Coates, LLP has substantial experience representing
 investors in securities fraud class action lawsuits such as this.  The firm
 has offices in Florida, Arkansas and California, but represents shareholders
 from 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 or visit the Firm's website at www.classlawyer.com.
 
      CAULEY GELLER BOWMAN & COATES, LLP
      Client Relations Department:
      Sue Null, Charlie Gastineau or Jackie Addison
      P.O. Box 25438
      Little Rock, AR 72221-5438
      Toll Free: 1-888-551-9944
      E-mail: info@classlawyer.com
 
 

SOURCE Cauley Geller Bowman & Coates, LLP
    LITTLE ROCK, Ark., April 18 /PRNewswire/ -- The Law Firm of Cauley Geller
 Bowman & Coates, LLP announced today that it has filed a class action in the
 United States District Court for the Southern District of New York on behalf
 of all purchasers of the B2B internet Holdrs Depositary Receipts (Amex:   BHH)
 between February 23, 2000 and April 9, 2001, inclusive (the "Class Period").
     The complaint charges that Merrill Lynch, Pierce, Fenner & Smith
 Incorporated, Merrill Lynch & Co., Ahmass L. Fakahany, John L. Steffens, E.
 Stanley O'Neal and George A. Schieren violated Sections 11, 12 and 15 of the
 Securities Act of 1933 and seeks to recover damages.
     The complaint alleges that the B2B Internet Holdrs depositary receipts
 were "basket securities" whose price was directly related to, and moved with,
 the price of 20 underlying securities held in the B2B Internet Holdrs trust.
 The complaint further alleges that defendants violated the federal securities
 laws by issuing and selling B2B Internet Holdrs Depositary Receipts, in an IPO
 on February 23, 2000, pursuant to a registration statement and prospectus that
 were materially false and misleading because they failed to disclose that a
 substantial proportion of the B2B Internet Holdrs trust's initial portfolio
 consisted of stocks whose prices had been artificially inflated through the
 use of improper practices relating to their initial public offering, and that
 they therefore traded at artificially inflated prices.  The price of B2B
 Internet Holdrs has fallen from a March 14, 2000 high of $108 per B2B Internet
 Holdr to a low of $4.26 on April 3, 2001.
     If you bought B2B Internet Holdrs Depositary Receipts between February 23,
 2000 and April 9, 2001, inclusive, you may, no later than June 4, 2001 request
 that the Court appoint you as lead plaintiff.  A lead 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 Cauley Geller Bowman & Coates, LLP, or other counsel of your choice, to
 serve as your counsel in this action.
     Cauley Geller Bowman & Coates, LLP has substantial experience representing
 investors in securities fraud class action lawsuits such as this.  The firm
 has offices in Florida, Arkansas and California, but represents shareholders
 from 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 or visit the Firm's website at www.classlawyer.com.
 
      CAULEY GELLER BOWMAN & COATES, LLP
      Client Relations Department:
      Sue Null, Charlie Gastineau or Jackie Addison
      P.O. Box 25438
      Little Rock, AR 72221-5438
      Toll Free: 1-888-551-9944
      E-mail: info@classlawyer.com
 
 SOURCE  Cauley Geller Bowman & Coates, LLP