Large Insurers Were Rocked By Spitzer. Aetna, Cigna and other health insurance giants were rocked Tuesday as New York Attorney General Eliot Spitzer's insurance bid-rigging and collusion investigation spread. Insurance regulators in at least three states have joined Spitzer's probe, which is rapidly expanding to include all lines … [Read more...]
Spitzer Subpoenas Large Insurers In Probe
Spitzer Releases Details of Alliance Capital Settlement
Alliance Capital Settlement Details. State Attorney General Eliot Spitzer released details of a $600 million settlement with Alliance Capital Management to resolve an investigation into the mutual fund's trading practices. Alliance will reduce its mutual fund fees by 20 percent and freeze the fees for five years. This will cost … [Read more...]
Spitzer To Seek Accord With SEC In Funds Probe
Spitzer With SEC Efforts In Probing Mutual Funds Probe. Eliot Spitzer, the New York attorney-general, will meet senior officials from the Securities and Exchange Commission on Tuesday in an attempt to coordinate their efforts in probing the mutual fund industry. On Monday he will speak to the US Senate, where he will call for … [Read more...]
SPITZER TURNS UP THE HEAT ON FRANK
Investion Of CSFB Banker Frank Quattrone. New York Attorney General Eliot Spitzer's investigation of Credit Suisse First Boston banker Frank Quattrone appears to be moving up the bank's former hierarchy. Spitzer's office has talked with CSFB's former general counsel for the Americas, David Brodsky, about a series of e-mails he … [Read more...]
Spitzer Settlement To Cost Citigroup $1.3Bn
Eliot Spitzer Settlement. Citigroup is to take a $1.5bn charge in the fourth quarter, including $1.3bn to cover the costs of potential litigation relating to the settlement of Eliot Sptizer's probe into Wall Street's investment banks. The charge comes after the banks agreed to pay up to $1.4bn between them to settle accusations … [Read more...]
SEC, Spitzer Might Outlaw Practice Of ‘Spinning’ IPOs
Practice Of ‘Spinning’ IPOs. The market for initial public offerings cooled in 2000. But the chill for corporate executives who had been showered with IPOs from Wall Street could be permanent, Tuesday’s Wall Street Journal reported. A little-noticed effort is under way as part of a plan by the New York attorney general’s office … [Read more...]
Spitzer Raises The Heat On Citigroup
Spitzer Civil Suit Over Citigroup. At first glance, New York Attorney General Eliot Spitzer's main target with his latest civil suit on Sept. 30 appears to be the five telecom executives named in the filing. After all, the defendants former WorldCom CEO Bernard J. Ebbers, ex-McLeod USA CEO Clark E. McLeod, former Quest Communications … [Read more...]
