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January 1, 1988 | DOUGLAS FRANTZ, Times Staff Writer
The investment banking firm of Drexel Burnham Lambert and the head of its "junk bond" operation, Michael M. Milken, have been sued for $200 million by a Santa Monica brokerage that claims it was underpaid commissions on billions of dollars in securities transactions. The civil lawsuit was filed in Los Angeles Superior Court by JWD Financial, which is operated by Maurice L. Weiss, who formed the company after leaving his job as a broker for New York-based Drexel in 1979.
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BUSINESS
January 1, 1988 | DOUGLAS FRANTZ, Times Staff Writer
The investment banking firm of Drexel Burnham Lambert and the head of its "junk bond" operation, Michael M. Milken, have been sued for $200 million by a Santa Monica brokerage that claims it was underpaid commissions on billions of dollars in securities transactions. The civil lawsuit was filed in Los Angeles Superior Court by JWD Financial, which is operated by Maurice L. Weiss, who formed the company after leaving his job as a broker for New York-based Drexel in 1979.
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