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TheStreet.com
If you ask a securities attorney to list the pros and cons of the arbitration process, you’ll likely get the following response:What difference does it make? You don’t have any other option. That’s true. In the securities industry, complaints are typically heard in arbitration (a private legal proceeding that’s legally binding on both parties), rather […]
New York Times
How much will the investigation into the behavior of Merrill Lynch’s stock analysts cost the firm? With estimates running into the billions of dollars, Merrill’s shares have been bouncing all over the map. Merrill executives hope to reach a settlement soon with Eliot L. Spitzer, the attorney general of New York, that would require Merrill […]
Syndicated Columnist
Every day the morning paper brings a fresh example of the flotsam bubbling to the surface following the collision of corporate greed and post-Enron reality: golden boy executives forced to walk the plank, formerly high-flying companies “restating” fraudulently inflated earnings, internal emails exposing the depths to which Wall Street firms have sunk to boost their […]
New York Times
A rare public apology from the chairman of Merrill Lynch & Company has not managed to defuse the anger of investors large and small over the conflicts of interest that they contend colored the advice of Merrill’s stock analysts. David H. Komansky, Merrill’s chairman and chief executive, apologized at the firm’s annual meeting on Friday […]
PR Newswire
A National Association of Securities Dealers (NASD) arbitration panel found liable and ordered Merrill Lynch (NYSE: MER – news) to pay Patricia McNamara a total of $192,000 for the company’s breach of fiduciary duty and failure to supervise registered representative Robert Morgart in its Sante Fe, New Mexico office. In her claim, Patricia McNamara, a […]