Monthly Archives: November 2003
Tokyo Stocks Plunge as Higher Yen Hits Techs
Tokyo, Nov. 19 (Jiji Press)–Stocks plunged on the Tokyo Stock Exchange Wednesday, as export-oriented technology heavyweights were beaten down on the heels of Wall Street stocks’ setback overnightand the yen’s appreciation versus the dollar. Amid dwindling turnover, the key Nikkei […]
Bernstein Liebhard & Lifshitz, LLP Announces Class Action Lawsuit Commenced Against AllianceBernstein Technology Fund, AllianceBernstein Fund, Inc., Alliance Capital Management Holding L.P., Alliance Capital Management L.P., Alliance Capital Manag
A class action lawsuit was commenced in the United States District Court for Southern District of New York on behalf of all persons who purchased or otherwise acquired shares or other ownership units of one or more of the mutual […]
Janus Hires Firm to Assess Market-Timing
DENVER (AP) – Janus Capital Group Inc. said Wednesday it hopes to know by the middle of next month how much improper trading arrangements cost its mutual fund shareholders. The Denver-based company also should have a method for making restitution […]
FBI Created Hedge Fund in Sting
NEW YORK (AP) – In an elaborate undercover operation to infiltrate an alleged foreign exchange and securities scam, the FBI set up a fake hedge fund called Centurion Consulting Inc., according tocourt documents unsealed Wednesday. It was through this hedge […]
SEC Commissioner Outlines Mutual Fund Reforms; Committee Remains Critical
Nov. 19–Securities and Exchange Commissioner William H. Donaldson confessed yesterday that for years his agency had failed to check funds to catch wrongdoing like late trading or market timing,practices used to steal millions from small investors. “For too long, the […]
TheStreet.com Daily Briefing Launched for Retail Brokers and Financial Advisors; Latest Product Designed to Help Investment Professionals Build Their Businesses
NEW YORK–(BUSINESS WIRE)–Nov. 19, 2003–TheStreet.com, Inc. (Nasdaq:TSCM), a leading provider of financial commentary, research, analysis and news, today announced the launch of TheStreet.com DailyBriefing. TheStreet.com Daily Briefing is a daily email service that provides retail brokers and financial advisors with […]
Grace Magazine Shuts After Investor Quits
NEW YORK (AP) – Grace, a fashion and lifestyle magazine for women size 12 and up, is shutting down after its primary investor pulled out, the company announced Wednesday. Grace published seven issues since launching in May of last year, […]
SEC Chair, Securities Regulators Disagree on How to Handle Fund Scandals
Nov. 19–There they go again. Securities and Exchange Commission chairman William Donaldson and top securities regulators in New York and Massachusetts are still arguing over how to handle the mutual fund scandals. At a Congressional hearing yesterday, the brawl almost […]
Denver-Based Janus Capital Is Latest Mutual Fund Trader to Lose Its CEO
Nov. 18–Janus International chief executive Richard Garland resigned on Monday, the latest head to roll in a widening probe over mutual-fund trading agreements that hurt small investors. Denver-based Janus Capital Group offered no formal explanation of why Garland left, in […]
Investors Accuse Woodland Hills, Calif.-Based Health Net of Hiding Finances
Nov. 18–An investor group has sued Health Net Inc. for more than $200 million in damages, alleging the Woodland Hills-based managed care company concealed financial information about its formersubsidiary. The lawsuit, announced Monday, claims that Health Net did not reveal […]
Daily News, New York, Guerrilla Investing Column
Nov. 17–As I was walking to work last Friday, I approached the townhouse of a money manager friend named John. Two detectives were waiting in front of the garage. A car pulled up. The first detective flashed his badge. I […]
Mutual Fund Industry Has Betrayed Many People in Small Ways, Experts Say
Nov. 17–Mutual fund market-timing and late-trading scandals won’t wipe out individual investors like the accounting frauds at Enron and WorldCom did. But in a two-year parade of Wall Street misdeeds, the mutual fund industry has betrayed an alarmingly large number […]