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USA Today
After this week’s $1.4 billion settlement between regulators and 10 Wall Street investment banks, investors who’ve been burned by a broker may be wondering whether it’s time for payback. Securities lawyers say they are already busy fielding arbitration inquiries. You don’t have to be directly affected to have a good case. Many kinds of broker […]
Los Angeles Times
At the height of the ’90s stock boom, some investment banks were searching for a novel way to boost the prospects of their corporate clients. They apparently found one: securing analyst coverage for the clients by paying rival firms to provide it, according to documents released Monday as part of a landmark legal settlement between […]
CBS Marketwatch
An NASD arbitration panel ruled against Morgan Stanley Dean Witter, awarding $234,000 in restitution to a couple who argued a broker at the firm put them into investments that were too risky, lawyers said Tuesday. According to the California law firm, Robert and Sueellen Perry, were advised to invest in a portfolio that “was concentrated […]
PR Newswire
BEVERLY HILLS, CALIFORNIA, April 29, 2003 /PRNewswire/ – The following was released today: A National Association of Securities Dealers (NASD) arbitration panel found liable and ordered Morgan Stanley DW, Inc. (NYSE: MWD) to pay Robert Perry and Sueellen Perry a total of $234,000 for the company’s breach of fiduciary duty and failure to supervise registered […]
Los Angeles Daily Journal
San Francisco – In a significant blow to the state’s tough new ethical standards, U.S. District Judge Jeremy Fogel of San Jose ruled Tuesday that the new disclosure requirements for arbitrators cannot be applied to securities groups because the rules are pre-empted by federal statues. In a 28-page ruling, Fogel agreed with the claims made […]