A federal judge had dismissed two lawsuits brought by investors who claimed that Merrill Lynch & Co. was liable for money lost on Interliant Inc. and 24/7 Real Media Inc., according to published reports Both companies part of the dot-com boom and bust.

In dismissing the claims, reports cited U.S. District Judge Milton Pollack as saying that the investors would not have sued had they made money during the crash, and that securities laws were not created to protect speculators.

In the complaints, investors claimed that Merrill Lynch analysts pumped the stocks in order to capture shares of dot-com investment banking businesses, according to published accounts.

Judge Pollack is still considering 25 other, similar suits against Merrill Lynch which were brought by a variety of investment funds or companies, reports said.

A federal judge had dismissed two lawsuits brought by investors who claimed that Merrill Lynch & Co. was liable for money lost on Interliant Inc. and 24/7 Real Media Inc., according to published reports Both companies part of the dot-com boom and bust.

In dismissing the claims, reports cited U.S. District Judge Milton Pollack as saying that the investors would not have sued had they made money during the crash, and that securities laws were not created to protect speculators.

In the complaints, investors claimed that Merrill Lynch analysts pumped the stocks in order to capture shares of dot-com investment banking businesses, according to published accounts.

Judge Pollack is still considering 25 other, similar suits against Merrill Lynch which were brought by a variety of investment funds or companies, reports said.