March 23, 1989 |
Signaling that recently rising interest rates may be hurting the bond trading activities of several Wall Street firms, Salomon Inc. said Wednesday that it expects to report a "modest" loss in the current first quarter. The once-venerable firm--which has been trying to reduce its dependence on trading--blamed the expected poor results on adverse trading conditions over the past few weeks in its Salomon Bros. government bond operations and its Philipp Bros. commodity operations.
April 14, 1993 |
Salomon Inc.'s credit ratings were lowered by Standard & Poor's Corp., reflecting the securities firm's increased reliance on trading for profit and fluctuations in the company's quarterly earnings.
May 19, 1994 |
NYSE Denies Gutfreund's $56.3-Million Claim: A New York Stock Exchange arbitration panel rejected John Gutfreund's claim against the company he once led, Salomon Inc. The three-member panel said Gutfreund's claims against Salomon and its Salomon Bros. Inc. subsidiary were "denied in their entirety." In addition, the panel said Gutfreund must pay $96,000 in forum fees. Gutfreund, toppled in the wake of Salomon's August, 1991, U.S.
August 13, 1991 |
Salomon Inc. Class-Action Suit: Two investors filed a class-action suit against brokerage Salomon Inc. in U.S. District Court in New York, charging that the company "engaged in fraud" in connection with alleged bidding violations at Treasury security auctions. The suit, which names Salomon Chairman John Gutfreund among others, claims that Salomon stockholders were defrauded by the alleged violations and that the company has threatened its "good reputation."