Opioid Lawyers Explain Wall Street’s Secret Drug Problem
The general population is well aware that our nation is facing a devastating opioid crisis. The opioid epidemic in America has claimed thousands of lives across the country and has especially impacted small, rural communities in the Midwest. However, larger urban communities are not immune from the effects of the opioid epidemic. In … [Read more...] about Opioid Lawyers Explain Wall Street’s Secret Drug Problem
$18B Tab Possible In Recall of Vioxx
Recall of Vioxx May Cost $18 Billion. A Wall Street analysis suggests the Vioxx recall may cost Merck as much as $18 billion over the next decade. The staggering sum reflects the possibility more than 50,000 Vioxx users suffered heart attacks or strokes, and that each patient will file a successful lawsuit against the beleaguered … [Read more...] about $18B Tab Possible In Recall of Vioxx
Six Banks Knew Their Enron Deals Were Funky
Banks Knew Enron Deals Were Funky. Six Wall Street banks knew their financial deals with Enron, before its downfall, were illegal, and the banks "aided and abetted" Enron's former executives, alleges a report released Monday in Enron's bankruptcy case. Citigroup, J.P. Morgan Chase, Barclays, BT/Deutsche, CIBC and Merrill Lynch … [Read more...] about Six Banks Knew Their Enron Deals Were Funky
State To Get Wall Street Settlement Money
Wall Street Settlement With Securities Regulators. The state and West Virginia investors have a stake in the record $1.4-billion settlement agreement reached between some of Wall Street's largest firms and securities regulators. West Virginia State Auditor and Securities Commissioner Glen B. Gainer II announced Tuesday … [Read more...] about State To Get Wall Street Settlement Money
Wall Street Pact Seen Spurring Suits
Wall Street Pact With Charges. After investors collectively lost huge sums, Wall Street's biggest firms have agreed to pay $1.4 billion to settle charges that they touted stocks in research reports to help win investment banking business. Relatively little of that money will go to pay investors who lost money. But the settlement is … [Read more...] about Wall Street Pact Seen Spurring Suits
Lehman Brothers
Lehman Brothers Part Of Settlement. A letter of acceptance, waiver and consent issued by Lehman Brothers as part of Wall Street's global settlement paints a grim picture of investment banking's domination of the firm's research department during the bubble years. Lehman acknowledged that it had not only breached National … [Read more...] about Lehman Brothers
Mary Meeker, the One Still Standing
Mary Meeker Internet-Telecom Boom. Henry Blodget, Jack Grubman, Frank Quattrone and Mary Meeker were Wall Street's best-known promoters of the Internet-telecom boom. A few years ago, they were spoken of in a single breath, and in flattering tones, but those times now feel as ancient as Mesopotamia. For more than a year, New York … [Read more...] about Mary Meeker, the One Still Standing
Quattrone Reopens Wall Street Wounds
Quattrone Charged With Obstruction Of Justice. The decision to charge Frank Quattrone, Credit Suisse First Boston's former head technology banker, with obstruction of justice shows federal regulators are not finished taking their pound of flesh from Wall Street. Regulators have not forgotten its role in the stock bubble preceding … [Read more...] about Quattrone Reopens Wall Street Wounds
Wall Street Firms Near Settlement
Wall Street Firms Conflicted Stock. Nearly four months after securities regulators and Wall Street's biggest firms announced a historic $1.4 billion "agreement in principle" to end multiple probes into allegedly conflicted stock research, sources said a final deal could be signed as soon as Wednesday. Regulators and lawyers for … [Read more...] about Wall Street Firms Near Settlement
Wall Street Firms Facing Wave Of Investor Lawsuits
Wall Street Firms Settlement With Lawsuits. Wall Street firms are emerging from a $1.4 billion settlement with securities regulators over alleged conflicts between their stock research and investment banking departments. Now, the private litigation barrage has begun. Monday, a law firm filed roughly 100 arbitration claims on … [Read more...] about Wall Street Firms Facing Wave Of Investor Lawsuits
Penalizing Wall Street: Pick a Fine, Any Fine
Penalizing Wall Street. Banks and regulators are haggling hard over fines to settle charges that Wall Street analysts brazenly touted companies they considered poor investments to win their investment banking business. Regulators and prosecutors want banks to pay between $75 million and $500 million each, depending on how egregious … [Read more...] about Penalizing Wall Street: Pick a Fine, Any Fine
Wall Street Fines Could Top $1B In Probe
Wall Street Fines For Misleading Investors. Regulators began meeting with Wall Street investment firms Friday to discuss fines, reportedly totaling more than $1 billion, for misleading investors with poor research. Firms will be given ranges of impending fines during meetings Friday and next Monday and Tuesday with New York state … [Read more...] about Wall Street Fines Could Top $1B In Probe
2 Wall Street Firms Notified of Charges
Charges Against Two Wall Street Firms. Securities and Exchange Commission investigators told Goldman Sachs Group Inc. and J.P. Morgan Chase & Co. that they plan to ask the agency to file stock fraud and market manipulation charges against the firms. The SEC's staff alleges the companies allotted shares in initial public … [Read more...] about 2 Wall Street Firms Notified of Charges
Blame It On The Street
Wall Street Firms Conflict Of Interest. I am changing my mind about the stock market bubble. Until recently I was in the camp that said we were all to blame for the market's remarkable rise and fall. We all bought the Internet story; we were all going to be rich; we all lost sight of reality. I still say we all have to accept … [Read more...] about Blame It On The Street
Can This Man Make Wall Street Behave?
Wall Street Analysts Are In Cahoots. Remember the Chinese Wall? Well, if anyone doubted that Wall Street analysts are in cahoots with their firms' investment bankers, read this: Excite@home is "such a piece of crap." As for GoTo.com: "Nothing interesting about this company except investment-banking fees." These are just two of the … [Read more...] about Can This Man Make Wall Street Behave?
Wall Street Analysts Probe Widens
Wall Street Analysts Probe. New York Attorney General Eliot Spitzer has widened the investigation into a number of Wall Street analysts. He has now ordered several top investment firms to hand over documents that could reveal conflicts of interest between analysts and investment bankers. The Financial Times named Morgan Stanley … [Read more...] about Wall Street Analysts Probe Widens
