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Richard S Strong

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BUSINESS
November 3, 2003 | Tom Petruno, Times Staff Writer
Richard S. Strong resigned Sunday as chairman of the mutual fund company he founded nearly 30 years ago, becoming the highest-profile fund officer so far to step down amid a deepening industry scandal. Strong's move came a few days after New York Atty. Gen. Eliot Spitzer said he might bring criminal charges against the 61-year-old executive involving alleged improper trading in shares of funds managed by Strong Capital Management Inc. The Menomonee Falls, Wis.
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BUSINESS
December 4, 2003 | From Associated Press
Strong Financial Corp. on Wednesday confirmed that it's for sale, a day after founder and Chief Executive Richard Strong resigned amid federal and state investigations of his trading activities. In a brief statement, the company said it had hired brokerage Goldman Sachs to look for possible deals. "A sale of the company is among the strategic alternatives we are considering," spokeswoman Stephanie Truog said. "Nothing may come of this exploration.
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BUSINESS
December 4, 2003 | From Associated Press
Strong Financial Corp. on Wednesday confirmed that it's for sale, a day after founder and Chief Executive Richard Strong resigned amid federal and state investigations of his trading activities. In a brief statement, the company said it had hired brokerage Goldman Sachs to look for possible deals. "A sale of the company is among the strategic alternatives we are considering," spokeswoman Stephanie Truog said. "Nothing may come of this exploration.
BUSINESS
November 3, 2003 | Tom Petruno, Times Staff Writer
Richard S. Strong resigned Sunday as chairman of the mutual fund company he founded nearly 30 years ago, becoming the highest-profile fund officer so far to step down amid a deepening industry scandal. Strong's move came a few days after New York Atty. Gen. Eliot Spitzer said he might bring criminal charges against the 61-year-old executive involving alleged improper trading in shares of funds managed by Strong Capital Management Inc. The Menomonee Falls, Wis.
BUSINESS
January 31, 2004 | From Associated Press
A New York state grand jury is reportedly considering evidence against the founder and former chief executive of beleaguered mutual fund company Strong Financial Corp. The grand jury, convened by New York Atty. Gen. Eliot Spitzer, has been examining evidence concerning Richard S. Strong's short-term trading activity in his company's mutual funds, the New York Times reported Friday.
BUSINESS
October 30, 2003 | From a Times Staff Reporter
In a further escalation of the mutual fund industry scandal, New York Atty. Gen. Eliot Spitzer will accuse the head of the Strong mutual funds of improper trading in his company's funds, according to a published report today. The New York Times said Spitzer would bring charges against Richard S. Strong, chairman and founder of Strong Capital Management Inc., alleging that he traded in and out of certain funds in recent years, contrary to the firm's official policy on "market timing."
BUSINESS
November 18, 2003 | Tom Petruno, Times Staff Writer
The mutual fund industry may be about to lose a long-cherished privacy veil. The House and the Senate are set to take up bills that would force fund managers to publicly disclose the stakes they have in their own funds and to report when they buy or sell shares in the portfolios. With its image battered by the widening fund trading scandal, the industry is expected to drop what had been vehement opposition to the idea of managers having to reveal their personal stakes in funds they direct.
BUSINESS
November 11, 2003 | From Reuters
Alliance Capital Management said Monday that it dismissed two senior executives for allowing improper trading of mutual fund shares, as federal and state probes into the fund industry claimed more victims. Alliance, which has $438 billion in assets under management, said the two executives had responsibility over its Alliance Capital mutual fund unit. The move follows the departure earlier this month of top executives at two other fund groups accused of improper trading. Richard S.
BUSINESS
October 13, 1986 | PETER BEHR, The Washington Post
Richard S. Strong has called on 167 companies around the country so far this year, looking for stock market winners. Strong is chairman of a Milwaukee-based concern that manages five mutual funds with about $1 billion in securities and fixed-income investments. The mutual funds have had more than average success: Two of them placed in the top 3% of all mutual funds over the past year.
BUSINESS
November 16, 2003 | Tom Petruno, Times Staff Writer
Some scandalous things have happened in the mutual fund industry. Now, what price should fund companies pay to make amends? The Securities and Exchange Commission took its first stab at answering that question last week, only to trigger cries of "Sellout!" from the agency's two principal state regulatory rivals.
BUSINESS
November 9, 2003 | Tom Petruno, Times Staff Writer
If you were going to choose a name today for an organization of active money managers, chances are you wouldn't pick the title that Steve Landis' association adopted in 1989. The group is the Society of Asset Allocators and Fund Timers. As in mutual fund timers. Given that the scandal enveloping the fund industry is centered on certain timing practices, Landis and his peers might as well call themselves the Society of Mutual Fund Evildoers.
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