Report: NASD Going After Blodget

Henry Blodget, the former Merrill Lynch analyst forever associated with the Internet bubble, is being investigated over his research by the National Association of Securities Dealers, which is preparing to take action against him.

A source who is close to the investigation and who requested anonymity confirmed news reports Friday that the NASD recently disclosed its intentions to Blodget.

The reports said Blodget received a so-called Wells Notice, which gives the analyst the chance to refute the claims before the self-regulatory agency decides to take action. The NASD has not issued a public statement on the matter, and officials of the association could not be reached for comment. ...