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.
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.
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 major Wall Street ratings firm, and even the federally chartered agency that sells student loans. Attorneys representing the county filed the lawsuits in U. S. Bankruptcy Court here on the eve of the county's emergence from the worst municipal bankruptcy in U. S. history.
October 25, 2007 |
Morgan Stanley, the second-biggest U.S. securities firm, sued mortgage lender Fremont General Corp. for $10 million over its refusal to repurchase hundreds of bad home loans it sold. Loans purchased by Morgan Stanley Mortgage Capital Holdings from Fremont Investment & Loan in 2005 and 2006 misstated the borrowers' income, employment and assets, according to a complaint filed in federal court in New York. Fremont was forced to exit the sub-prime mortgage business after losing $1.