October 11, 1989 |
Federal prosecutors disclosed Tuesday that Fred C. Lee, the Taiwanese businessman implicated in a major insider trading scandal involving the investment firm Morgan Stanley & Co., was named in a 439-count criminal indictment returned a year ago but kept under seal. The indictment was unsealed Tuesday because prosecutors said Lee, a fugitive believed to be living in Taiwan, undoubtedly is aware that he is wanted by U.S. authorities. Assistant U.S. Atty. John M.
July 6, 1989 |
E. Cardon Walker, former chief executive and director of Walt Disney Co., testified Wednesday that he was unaware of some major considerations when he voted on key issues during the company's 1984 defense against Wall Street raider Saul Steinberg. Walker was the second defendant called to the witness stand by the plaintiffs' lawyers during the jury trial in Los Angeles Superior Court.
May 15, 1985 |
A group of 25 investors organized by the New York investment banking firm of Morgan Stanley & Co. made a formal offer Tuesday for the federal government's 85% interest in Conrail, saying it was $600 million sweeter than the deal offered by Norfolk Southern Corp. Like Norfolk Southern, the Morgan Stanley investors offered $1.2 billion in cash for the Northeastern and Midwestern freight railroad.
July 13, 2004 |
Wall Street brokerage firm Morgan Stanley agreed Monday to pay $54 million to settle claims of sex discrimination, including strip-club outings with clients and higher pay for men. The settlement was announced just as a jury, including eight women, was to hear a trial in the case, brought by the Equal Employment Opportunity Commission and former Morgan Stanley bond seller Allison Schieffelin.
May 11, 1988 |
Five of the biggest practitioners of program trading, the computerized activity blamed for aggravating stock market volatility and the October crash, said Tuesday that they will suspend the controversial practice for their own accounts. The voluntary moves, made to restore investor confidence and assuage a growing chorus of critics, all but eliminated for now the last of the major Wall Street firms conducting program trades for their own accounts.
October 17, 1997 |
An agreement to transfer ownership of the long-troubled Playa Vista commercial and residential development--where the DreamWorks SKG studio wants to build its home--into the hands of a deep-pocketed investment partnership was reached late Thursday and is expected to be announced today. Real estate affiliates of New York investment banks Goldman Sachs & Co. and Morgan Stanley & Co.
October 28, 1989 |
Some of Wall Street's biggest firms are backing off from a form of computerized trading that is widely blamed for making the stock market more volatile. The strongest backlash against computer-driven "program trading" came Friday, when three of the best-known brokerages--Morgan Stanley & Co., Bear, Stearns & Co. and Oppenheimer & Co.--said they will stop using the technique, at least temporarily, when buying and selling securities with their own money.
June 29, 1988 |
The disclosure Monday of yet another major insider trading scandal raises anew the question of whether Wall Street can really keep a secret. Some academics and law enforcement officials interviewed Tuesday criticized the big Wall Street firms for not doing enough to keep sensitive information from leaking out.
February 6, 1997 |
The unmistakable message in the surprise marriage plans between Morgan Stanley & Co. and Dean Witter, Discover & Co. is that the individual investor is king--and if you're going to serve the king, you'd better have some high-quality goods and services to offer.
June 12, 1996 |
Broadening a campaign to recover the investment losses that drove it into bankruptcy, Orange County filed five new lawsuits Tuesday, demanding millions in damages from its former bond lawyers, a Wall Street ratings firm and even the federally chartered agency that sells student loans. Attorneys representing the county filed the suits in U.S. Bankruptcy Court here on the eve of the county's emergence from the worst municipal bankruptcy in the nation's history.