Monthly Archives: February 2004
‘Benefits are not what they’re cracked up to be’
“Save, save, save,” is the message from one North-East finance expert, who warns more of us will be forced to take odd jobs and spend the children’s inheritance as pensioners if we don’t. Nick Straker, at Lycetts Financial Services, independent […]
Puzzling rise in British Energy shares
Shares in British Energy have more than doubled despite assurances from the electricity generator that it had no explanation for the increase. The surge gathered pace after the announcement, leaving the financially- stricken group with a closing price of 10.25p, […]
Goldmans helps electrify British Energy price
SHARES IN British Energy surged another 30 per cent yesterday after Goldman Sachs emerged with a 4.5 per cent stake in the beleaguered nuclear generator amid heavy trading. Almost a quarter of the company is thought to have changed hands […]
OUTLOOK: British Energy
THE MORE distance British Energy puts between itself and the financial meltdown which engulfed the company 18 months ago, the more questions are asked about the restructuring imposed on the nucleargenerator by the Government. Just to recap, the rescue package […]
SHARES AND MARKET REPORT: Securicor in demand on talk of predator to challenge Group 4
INVESTORS RUSHED to get their hands on Securicor stock late in the session amid suggestions that a rival bid to the proposed tie- up with Denmark’s Group 4 Falck could be on the way. The buyinginterest pushed Securicor 0.75p higher […]
Hedge fund boost for British Energy
SHARES in British Energy soared by a third yesterday after reports a US hedge fund could mount a legal challenge to the nuclear power generator’s restructuring in an attempt to get a better deal forshareholders. The stock climbed by almost […]
CIBC ex-trader is accused of fraud
A former trader at Canadian Imperial Bank of Commerce has been charged with larceny and securities fraud, accused of financing illegal mutual fund trades. The trader, Paul Flynn, of Larchmont, New York, is the latest in a growing list of […]
Franklin Templeton Parent Accused of Fraud
In the latest legal blow to a major mutual fund company, Massachusetts regulators accused the parent company of Franklin Templeton Investments of fraud, alleging the firm let a Las Vegas businessmanmake $45 million worth of improper mutual fund trades in […]
Bernstein Liebhard & Lifshitz, LLP Announces Class Action Lawsuit Commenced Against Capital Management Investors Holding and Security Trust Company Concerning Various Mutual Funds
A class action lawsuit was commenced in the United States District Court for the District of Arizona on behalf of all persons (the “Class”) who purchased or otherwise acquired shares or other ownership units of one or more of a […]
Mutual-Fund Giant Franklin Resources Charged With Fraud
Feb. 5–Regulators charged the nation’s fourth-largest mutual-fund company, Franklin Resources of San Mateo, with fraud Wednesday for permitting an unethical arrangement in 2001 that enriched topexecutives and select clients at the expense of average investors. Massachusetts regulators charged that Franklin […]
Regulators accuse Franklin Resources
Massachusetts regulators accused mutual fund giant Franklin Resources of civil fraud Wednesday, saying the firm engaged in a frequent-trading scheme with a wealthy investor. In the enforcement action, Massachusetts Secretary of State William Galvin alleged that Franklin Resources, the fourth-largest […]
SEC probes fund tied to U.S. Bancorp
SEC probes fund tied to U.S. Bancorp City firm says it told agency of trade concerns By PAUL GORES [email protected], Journal Sentinel Wednesday, February 4, 2004 Federal securities regulators are conducting an inquiry into a Milwaukee mutual fund affiliated with […]