Monthly Archives: November 2003
PBHG Founders Charged in Trading Case
Regulators filed civil fraud charges against the two founders of the Pilgrim Baxter mutual fund family Thursday, saying they made millions for themselves and friends in an improper trading schemethat harmed other fund shareholders. Gary Pilgrim and Howard Baxter were […]
Ex-fund chiefs tied to fraud
Ex-fund chiefs tied to fraud PBHG founders permitted improper trading, regulators say By REED ABELSON AND RIVA ATLAS New York Times Friday, November 21, 2003 Regulators on Thursday accused Gary L. Pilgrim and Harold J. Baxter, founders of PBHG mutual […]
Business & Media: Market forces: Evil influence at Photo Me
Photo-Me International has had a fairly torrid time since the start of the month and last night it became clear exactly who has been exerting the selling pressure. It’s the market’s old friend SimonCawkwell, aka Evil Knievil. This week it […]
Tokyo Stocks Seen Top-Heavy Next Week
Tokyo, Nov. 21 (Jiji Press)–Tokyo stocks are seen top-heavy next week, as buying on expectedly upbeat bank earnings would be countered by unabated position-adjustment selling. Growing concern over terrorism could also check active buying, traders forecast. Major Japanese banks next […]
Old Mutual US arm faces 148m settlement payout
OLD Mutual’s US group Pilgrim Baxter could face settlement costs of $250 million (148 million) over trading violations in the widening mutual funds scandal. US regulators have brought charges against the two founders of Pilgrim Baxter, threatening to make an […]
The Kansas City Star, Mo., Jerry Heaster Column
Nov. 21–FREE TRADE SUCCUMBS TO POLITICS: President Bush is jeopardizing America’s long-term economic health by using protectionist trade policy to further his quest for a second term in the WhiteHouse. Problems with European trading partners over U.S. steel tariffs ruled […]
Wayne, Pa., Mutual Fund Firm, Founders Accused Fraud
Nov. 21–Gary L. Pilgrim and Harold J. Baxter defrauded investors in their PBHG funds, the Securities and Exchange Commission and New York state attorney general alleged yesterday in simultaneouscivil actions. The complaints accuse the founders and their mutual-fund firm, Pilgrim, […]
Kansas City, Mo.-Area Mutual Funds Deny Improper Trading
Nov. 21–Waddell & Reed Financial Inc. has so far found no signs of improper trading in its mutual funds, the company’s CEO said Thursday at a conference in New York. American Century Investments and the Buffalo Funds, both based in […]
SEC Charges Mutual Fund Executives As Spitzer Builds Case against Strong CEO
Nov. 21–New York state and federal regulators filed civil fraud charges against mutual fund industry legends Gary Pilgrim and Harold Baxter Wednesday, turning up the heat on an expanding probe thathas been roiling the fund business for months. The suits […]
Chicago Tribune Bill Barnhart Column
Nov. 21–STOCKS SAG AMID TERRORISM WORRIES: Last week, I quoted a stock market analyst saying the slippage in stock prices is a “pause that refreshes.” It was no surprise that solid gains in September and October prompted a bout of […]
Regulators Charge Former Mutual Fund Stars with Allowing Improper Trades
Nov. 21–Federal and state regulators yesterday charged former mutual fund stars Gary Pilgrim and Harold Baxter with allowing favored investors to make improper trades in funds managed by the companythey founded. The pair is the highest-profile defendants yet in a […]
Foreign-exchange traders snared in Wall Street sting
A lone FBI agent working undercover for 18 months broke open the dramatic New York case that led to the raids and arrests of a slew of foreign-exchange traders in Manhattan on Tuesday, officials saidyesterday. The giant sting – dubbed […]