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BUSINESS
March 22, 1998 | DEBORA VRANA, TIMES STAFF WRITER
It wasn't long after he hired a close-knit team of junk bond refugees from Drexel Burnham Lambert that Frank E. Baxter realized he had to confront a potentially explosive personnel problem. As chairman and chief executive of Jefferies & Co., the Los Angeles investment banking firm, Baxter found himself at odds with one trader over how much risk was best for his company.
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BUSINESS
February 11, 2004 | From Bloomberg News
Anthony Sanfilippo, a stock trader who was once chief executive of Knight Trading Group Inc., has rejoined Jefferies & Co. as director of listed trading. Sanfilippo, 47, worked for Jefferies from 1980 to 1986. He resigned from Knight, the biggest market maker of small-capitalization stocks, in June as the company broadened its business from making trades for discount brokers to brokerage for institutional investors.
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BUSINESS
March 22, 1998 | DEBORA VRANA, TIMES STAFF WRITER
It wasn't long after he hired a close-knit team of junk bond refugees from Drexel Burnham Lambert that Frank E. Baxter realized he had to confront a potentially explosive personnel problem. As chairman and chief executive of Jefferies & Co., the Los Angeles investment banking firm, Baxter found himself at odds with one trader over how much risk was best for his company.
BUSINESS
June 2, 1989
Bilzerian Cross-Examined: Singer Co. Chairman Paul A. Bilzerian admitted on the witness stand that he drew up invoices that were "misleading" and "not true" for payments he had received from the Los Angeles-based brokerage firm Jefferies & Co. But as a federal prosecutor began his cross-examination of Bilzerian, the corporate raider continued to deny government charges that the payments were part of an illegal trading arrangement under which Jefferies...
BUSINESS
March 9, 1989 | SCOT J. PALTROW, Times Staff Writer
In closing arguments in the GAF Corp. stock manipulation trial, defense lawyer Arthur Liman for the first time spelled out a theory of why a Los Angeles-based brokerage firm made a series of unusual purchases and sales of stock in late 1986. Liman contended that an erratic pattern of buying and selling Union Carbide stock was carried out so that the brokerage, Jefferies & Co., could make a profit, and to help persuade GAF to use Jefferies & Co. to sell a 9.
BUSINESS
July 7, 1989 | ASSOCIATED PRESS
1986 Nov. 14: Stock speculator Ivan F. Boesky agrees to pay $100 million to settle charges of trading on insider information. He also agrees to cooperate with investigators and to plead guilty to a single, unspecified criminal charge. 1987 March 19: Boyd L. Jefferies, founder of the Los Angeles securities firm Jefferies & Co., agrees to plead guilty to two criminal charges involving securities law violations, including one deal involving Boesky. He is not accused of insider trading.
BUSINESS
December 9, 1989 | SCOT J. PALTROW, TIMES STAFF WRITER
The stock market manipulation case against GAF Corp. and its vice chairman is about to go to a jury after a third trial, this time following the late introduction of dramatic new evidence for the defense. Two earlier trials ended in mistrials, the second in March after a federal jury deliberated 12 days before declaring that it was deadlocked. Jury deliberations in the third trial are due to start Monday.
BUSINESS
December 13, 1988 | SCOT J. PALTROW, Times Staff Writer
Jury selection began Monday in the stock manipulation trial of GAF Corp. and its vice chairman, James T. Sherwin. The case is the first among the investigations spawned by the Ivan F. Boesky insider trading scandal to actually come to trial. It is also being billed as an important test of the evidence that prosecutors obtained from Boyd L. Jefferies, former chairman of the Los Angeles-based brokerage Jefferies & Co.
BUSINESS
January 17, 1998
* Kohlberg Kravis Roberts & Co. is in talks to buy Regal Cinemas Inc. for more than $1 billion, people familiar with the situation said. It would be Kohlberg's second acquisition in two months. * Jefferies & Co., the Los Angeles-based investment bank, agreed to pay $4.3 million to LotsOff Corp. to settle a lawsuit over what the San Antonio-based discount store chain claimed was an illegal transfer of funds.
BUSINESS
May 18, 1994 | MICHAEL PARRISH, TIMES STAFF WRITER
Maxxam Inc., the Houston-based investment firm headed by Charles E. Hurwitz, agreed in principle Tuesday to pay $52 million to settle lawsuits brought by former shareholders in Pacific Lumber Co., which Hurwitz took over in 1985. In the suits, filed beginning in 1988, the former shareholders alleged that Hurwitz, the former board of Scotia, Calif.-based Pacific Lumber and others used fraud and deception in the acquisition.
BUSINESS
November 5, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
Boyd L. Jefferies has abandoned his dream of eventually returning to the Los Angeles brokerage firm he founded, selling back his 800,000 shares of Jefferies Group Inc. stock to the firm for $11 million. The sale, which took place over the weekend, was announced Monday by Jefferies Group, the holding company for the securities brokerage Jefferies & Co. The price was the closing market price for the stock on Friday, $13.75 a share. Ronald L.
BUSINESS
February 27, 1990 | From Associated Press
Texas billionaire Harold C. Simmons, who has mounted a proxy fight for control of Lockheed Corp.'s board, sharply criticized the defense contractor Monday for its attempts to stymie the bid. In a filing with federal regulators, Simmons disclosed that in addition to seeking a new board, he wants to eliminate Lockheed's shareholders' rights plan, which would make it prohibitively expensive for anyone to buy more than 20% of the company's common stock. Simmons has an 18.9% stake.
BUSINESS
February 28, 1989 | SCOT J. PALTROW, Times Staff Writer
The head trader at Jefferies & Co., the Los Angeles-based stock brokerage, testified Monday in the GAF Corp. stock manipulation trial that he carried out orders to artificially raise the closing price of Union Carbide stock in 1986 and reported his activities by phone to GAF's vice chairman. The testimony of James T. Melton, 45, director of trading at Jefferies, has been considered crucial to the outcome of the trial by lawyers in the case.
BUSINESS
August 17, 1987 | DOUGLAS FRANTZ, Times Staff Writer
Immediately after Boyd L. Jefferies agreed to plead guilty to criminal charges and leave Jefferies & Co., the securities firm's remaining management summoned 20 leaders of its high-powered national sales force to Dallas. Another 40 of the firm's traders learned about the strategy session and flew in at their own expense.
BUSINESS
December 19, 1989 | SCOT J. PALTROW, TIMES STAFF WRITER
Salim B. (Sandy) Lewis, the former Wall Street takeover speculator and deal maker, was sentenced Monday to three years on probation and fined $250,000 for his admitted role in manipulating the price of Fireman's Fund Corp. stock in May, 1986. U.S. District Judge Mary Johnson Lowe also sentenced Lewis, 50, to perform several thousand hours of community service at Daytop Village, a New York organization that offers long-term residential treatment to drug addicts. Lewis' company, S. B. Lewis & Co.
BUSINESS
December 14, 1989 | SCOT J. PALTROW, TIMES STAFF WRITER
After two earlier trials ended without a verdict, the government succeeded Wednesday in a third attempt to convict GAF Corp. and its vice chairman on criminal stock market manipulation charges. A federal jury found the company and the executive, James T. Sherwin, 55, guilty on all eight felony counts pending against each. In the previous trial, the jury became deadlocked after 12 days of deliberations.
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