July 30, 1990 |
Prudential-Bache Sued for Fraud: A Los Angeles Superior Court suit filed Wednesday accuses Prudential-Bache Securities Inc. of negligence and fraud. Mary C. Trinnaman, an investor who filed the case, claims that the brokerage persuaded her to liquidate her portfolio and reinvest all her capital in VMS Mortgage Investment Fund.
March 16, 1988 |
Prudential-Bache Securities Inc. lost $164 million in 1987, more than previously estimated. Prudential Insurance Co. of America, the securities firm's parent, said Monday that its own profit from operations, before dividends and federal income tax, rose to $2.65 billion from $2.55 billion. Prudential did not announce a net income figure.
July 18, 1989 |
Prudential-Bache Securities Inc. salvaged a deal Monday that had fallen through last week by agreeing to acquire the branch offices and customer accounts of brokerage firm Thomson McKinnon Inc. for about $60 million. Prudential-Bache, subsidiary of Prudential Insurance Co. of America, announced Friday that it was terminating its agreement to buy all of Thomson McKinnon because of balance sheet problems.