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Class Action Against eSpeed Dismissed, Open to Refile

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At a glance:

A lawsuit against electronic bond broker eSpeed has run into problems.
 
A federal judge has dismissed the class action suit by investors because of insufficient evidence including failure to demonstrate intent to commit fraud.
 
The broker's stock plunged sharply in July, 2004 after a poor earnings forecast; previous to the forecast, the company had been aggressively promoting a trading product involving higher commissions for preferential treatment in bidding; however this product failed and was ultimately dropped.
 
The class has 20 days to refile their suit.

ESpeed fraud lawsuit dismissed, may be refiled -

Reuters - 4/4/2006 2:53 PM

A lawsuit against electronic bond broker eSpeed has run into problems.
 
A federal judge has dismissed the class action suit by investors because of insufficient evidence including failure to demonstrate intent to commit fraud.
 
The broker's stock plunged sharply in July, 2004 after a poor earnings forecast; previous to the forecast, the company had been aggressively promoting a trading product involving higher commissions for preferential treatment in bidding; however this product failed and was ultimately dropped.
 
The class has 20 days to re
 
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