Former Analyst Sues Salomon Over Firing
Salomon Is Being Sued By A Former Analyst. A former junior analyst at Salomon Smith Barney who contends he was fired for refusing to issue an upbeat research report has sued the company for $100 million. The analyst, Kenneth A. Boss, who was fired by ‘Salomon’, a Citigroup subsidiary, in June, contends that he was … [Read more...] about Former Analyst Sues Salomon Over Firing
Salomon Pays $5 Million To Settle Winstar Charges
Salomon Agreed To Pay To Settle Charges. The Salomon Smith Barney unit of Citigroup Inc. agreed today to pay a $5 million fine to settle charges that it misled investors with overly optimistic research reports on Winstar Communications Inc., a broadband services provider that was also a lucrative Salomon investment-banking … [Read more...] about Salomon Pays $5 Million To Settle Winstar Charges
NASD Slaps $5M Fine On Salomon
Salomon Misleading Stock Research. Securities regulators yesterday hit Citigroup subsidiary Salomon Smith Barney with a $5-million fine for misleading stock research and filed a separate complaint against the firm's former star telecommunications analyst, Jack Grubman. The National Association of Securities Dealers' fine covers … [Read more...] about NASD Slaps $5M Fine On Salomon
Salomon Is Spared the Rod
Salomon Misleading Research Report. In a move sure to be viewed by some as a slap on the wrist, the National Association of Securities Dealers fined Citigroup's Salomon Smith Barney unit $5 million for issuing "misleading research reports" about Winstar Communications, a defunct telecommunications company. WinStar was a former … [Read more...] about Salomon Is Spared the Rod
Grubman Quits As Salomon Analyst
Grubman Is Under Federal Investigation. Salomon Smith Barney stock analyst Jack Grubman, under federal investigation for touting telecommunications companies that were also lucrative clients of his firm, resigned today expressing "deep regret" for failing to predict a meltdown that cost investors billions. Grubman, among … [Read more...] about Grubman Quits As Salomon Analyst
NASD Probes Salomon IPOs
Salomon Doled Out Shares. The National Association of Securities Dealers has evidence that Salomon Smith Barney doled out shares of hot initial public offerings to the personal brokerage accounts of corporate executives in a possible attempt to land business from the executives' firms, according to a published report Friday. The … [Read more...] about NASD Probes Salomon IPOs
Salomon Whistleblower ‘Sacked For Misconduct’
Salomon Crooked IPO Practices. Salomon Smith Barney, the US investment bank, on Thursday claimed a former broker who went public this week with allegations of crooked IPO practices was not dismissed from the firm for whistleblowing but for misconduct. Salomon said David Chacon, who worked in the Los Angeles office until … [Read more...] about Salomon Whistleblower ‘Sacked For Misconduct’
Salomon Sued Over Analyst Rating
Salomon Smith Barney Face Fraud Charges. The attorney who won a settlement with Merrill Lynch & Co. for a client who lost money following an analyst's advice has filed a similar action seeking $10 million from Salomon Smith Barney and its telecom analyst Jack Grubman for his advocacy of the stock of now-bankrupt Global Crossing … [Read more...] about Salomon Sued Over Analyst Rating
