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Credit Suisse First Boston Corp

BUSINESS
August 16, 2002 | WALTER HAMILTON, TIMES STAFF WRITER
Securities regulators fined and suspended two senior executives at brokerage Credit Suisse First Boston on Thursday for their roles in a scandal involving initial public stock offerings in the late 1990s. The penalties mark the latest development in regulators' probes into whether Wall Street firms charged improper fees for IPO shares during the tech-stock boom.
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BUSINESS
May 21, 2002 | Bloomberg News
Goldman Sachs Group Inc., Credit Suisse First Boston Inc. and about 40 other investment banks won a bid Monday to delay the surrender of documents to investors suing over stock offerings of Internet and software start-ups the banks took public in the late 1990s. Investors had asked the judge presiding over a barrage of initial-public-offering lawsuits to order the defendants to turn over internal documents. But U.S. District Judge Shira Scheindlin in New York denied the request.
BUSINESS
January 19, 2002 | WALTER HAMILTON, TIMES STAFF WRITER
Credit Suisse First Boston has agreed to pay $100 million to settle an investigation by federal regulators into the firm's handling of initial public stock offerings during the late 1990s stock boom, a source said Friday. The payment to the Securities and Exchange Commission and the National Assn.
BUSINESS
December 12, 2001 | WALTER HAMILTON, TIMES STAFF WRITER
Credit Suisse First Boston and federal regulators are working to finalize a proposed $100-million settlement of a probe into the brokerage firm's handling of initial public stock offerings, sources said Tuesday. CSFB has tentatively agreed to the payment to resolve an 18-month investigation by the Securities and Exchange Commission and the National Assn. of Securities Dealers, a source close to the matter said.
BUSINESS
November 30, 2001 | WALTER HAMILTON, TIMES STAFF WRITER
The U.S. attorney's office in Manhattan has decided not to bring criminal charges against Credit Suisse First Boston over the firm's handling of initial public stock offerings during the late-1990s IPO boom, the investment bank announced Thursday. The U.S. attorney's office had been investigating how CSFB allocated shares of IPOs to investors as part of a far-reaching government probe of the IPO practices of major Wall Street brokerages.
BUSINESS
November 29, 2001 | Bloomberg News
Brokerage giant Credit Suisse First Boston said Wednesday it will sell its online trading arm to Bank of Montreal, rather than try to make a go of it in the increasingly competitive business. The Canadian bank will pay $520 million for the online unit, CSFBdirect. The business will be merged into Bank of Montreal's online investing arm, Harris InvestorLine.
BUSINESS
October 4, 2001 | Reuters
Credit Suisse First Boston, a unit of Swiss bank Credit Suisse Group Inc., is cutting 20% of its global investment banking unit, or about 760 jobs, a company source said. CSFB, which hired Wall Street veteran John Mack in July to tighten controls at the firm, has about 3,800 employees worldwide in its investment banking operations, which include its private equity group, the source said. A CSFB spokeswoman declined to comment on the matter, which was first reported by financial TV station CNBC.
BUSINESS
August 22, 2001 | Bloomberg News
Credit Suisse First Boston, facing a federal probe into its handling of initial public offerings, said it hired Gary Lynch, the Securities and Exchange Commission's former top enforcement official, as general counsel. A partner at New York-based Davis Polk & Wardwell for 12 years, Lynch, 51, will take the post Oct. 1, becoming the second attorney named to a senior job since John Mack took over CSFB last month. Mack hired mergers lawyer Stephen R.
BUSINESS
July 31, 2001 | Bloomberg News and Reuters
Wall Street strategists at brokerage giants J.P. Morgan Securities Inc. and Credit Suisse First Boston Corp. now agree that profits of the Standard & Poor's 500 companies will fare worse this year than previously thought. But they disagree as to whether that means investors should pile into stocks. J.P. Morgan's Douglas Cliggott, the most bearish major strategist on Wall Street, predicted Monday that S&P 500 earnings will fall 22% this year, and the index will sink to 1,100 by year's end.
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