Salomon Smith Barney Holdings Inc

Salomon Smith Barney Holdings Inc., the third-biggest U.S. securities firm, said it lost about $150 million after taxes during July and August because of trading in Russia, U.S. bond arbitrage and global arbitrage. Salomon, known for leveraged bets in bond markets around the world and for volatile earnings, had a string of trading losses since Travelers Group Inc. agreed to buy the firm a year ago and has shuttered some of its investment businesses.

A former Salomon Smith Barney analyst has agreed to a six-month suspension from the securities industry and a $100,000 fine to settle charges that she issued misleading research on Winstar Communications Inc., the NASD said Monday.

Geneva Group Inc., a broker for sales of small and mid-size companies, agreed Wednesday to be acquired by Citigroup Inc. for a reported $200 million in stock. Geneva, based in Irvine since its founding as a mergers-and-acquisition firm in 1977, will become a separately operated part of Citigroup's Salomon Smith Barney, a major provider of services for wealthy individuals.

A month after withdrawing from a federal class-action lawsuit against WorldCom Inc., the University of California sued three financial firms Thursday in an effort to recoup $353 million in stock losses. Named in the suit were financial services company Citigroup Inc. and its Salomon Smith Barney brokerage unit, along with accounting firm Arthur Andersen. The suit, filed in San Francisco Superior Court, accuses the firms of conspiring to hide the failing financial health of WorldCom, once the No.

Citigroup's Salomon Smith Barney unit, which New York Atty. Gen. Eliot Spitzer is investigating for possible conflicts of interest in its stock research, proposed industrywide rules separating analysts from investment bankers. In a letter Friday to industry regulators, Citigroup Chairman Sanford Weill suggested that analysts be prohibited from attending meetings with bankers soliciting business from public companies.

Citigroup Inc. Chairman and Chief Executive Sanford I. Weill has been ordered to give a deposition in a class-action lawsuit brought against Citigroup's Salomon Smith Barney unit by former brokers. The brokers claim that Weill was directly involved in introducing a 1990 plan at what was then called Smith Barney in which brokers contributed part of their commissions into a deferred compensation fund. The brokers say the money was never repaid.

Los Angeles-based sporting goods maker K2 Inc. said it has hired Salomon Smith Barney to help it sell its Simplex building products division. K2 warned that its third-quarter earnings for the period ended Sept. 30 will be below expectations and that Simplex will be counted as a discounted operation. The company also said its board authorized a buyback of up to 1.7 million shares of stock, about 10%.

AT&T Corp. said Friday that New York's attorney general has subpoenaed documents and correspondence between the phone giant and Citigroup Inc. to determine if a former Citigroup analyst raised his rating of AT&T to help his firm land large fees in a $10.6-billion stock offering. AT&T spokeswoman Eileen Connolly said the company is providing New York Atty. Gen. Eliot Spitzer with information related to its April 2000 offering of AT&T Wireless tracking shares.

A Yorba Linda couple who allege that Salomon Smith Barney lost $100,000 of their retirement money by making risky technology investments will ask a state court judge today to hear their case, which has been sidetracked by the ongoing dispute over how securities complaints are handled in California.

Salomon Smith Barney Inc., a unit of Citigroup Inc., was ordered to pay almost $3.2 million to a female employee for sexual discrimination. An arbitration panel ruled that the securities firm must pay Tameron Keyes about $1.5 million in punitive damages and about $1.5 million in compensatory damages as well as $150,000 for emotional distress, said Marvin Krakow, Keyes' lawyer. Keyes, who could not be reached for comment, works as a stockbroker in Salomon's Beverly Hills office, Krakow said.

Citigroup Inc., the world's largest financial services company, must defend allegations of biased analyst research in nine separate investor lawsuits instead of just one, a federal judge in New York ruled on Tuesday. Shareholders of WorldCom Inc., Global Crossing Ltd., AT&T Corp. and six other companies sued the bank's Salomon Smith Barney unit, alleging analysts had artificially boosted the value of nine technology stocks to gain investment-banking business. Some investors asked U.S.

Citigroup Inc. Chairman and Chief Executive Sanford I. Weill has been ordered to give a deposition in a class-action lawsuit brought against Citigroup's Salomon Smith Barney unit by former brokers. The brokers claim that Weill was directly involved in introducing a 1990 plan at what was then called Smith Barney in which brokers contributed part of their commissions into a deferred compensation fund. The brokers say the money was never repaid.

Salomon Smith Barney Inc., a unit of Citigroup Inc., was ordered to pay almost $3.2 million to a female employee for sexual discrimination. An arbitration panel ruled that the securities firm must pay Tameron Keyes about $1.5 million in punitive damages and about $1.5 million in compensatory damages as well as $150,000 for emotional distress, said Marvin Krakow, Keyes' lawyer. Keyes, who could not be reached for comment, works as a stockbroker in Salomon's Beverly Hills office, Krakow said.

A Yorba Linda couple who allege that Salomon Smith Barney lost $100,000 of their retirement money by making risky technology investments will ask a state court judge today to hear their case, which has been sidetracked by the ongoing dispute over how securities complaints are handled in California.

Salomon Smith Barney, beset by high-profile financial scandals, will propose on Friday a detailed settlement offer to federal regulators that will include a large fine and structural reform, sources said Wednesday.

Salomon Smith Barney agreed Monday to pay a $5-million fine to settle civil charges by the National Assn. of Securities Dealers that its former analyst Jack Grubman touted a telecom stock despite signs that the company was in severe financial trouble. The NASD also brought a similar complaint against Grubman and his assistant, analyst Christine Gochuico.

Citigroup Inc., the world's largest financial services company, must defend allegations of biased analyst research in nine separate investor lawsuits instead of just one, a federal judge in New York ruled on Tuesday. Shareholders of WorldCom Inc., Global Crossing Ltd., AT&T Corp. and six other companies sued the bank's Salomon Smith Barney unit, alleging analysts had artificially boosted the value of nine technology stocks to gain investment-banking business. Some investors asked U.S.

Officials in San Bernardino County said they've ended all trading with brokerage Salomon Smith Barney as they investigate some mutual-fund sales the firm made to the county. County Treasurer Dick Larsen said that Salomon charged San Bernardino, the largest county in the United States in area, commissions on its trades at the rate it would charge a retail customer. With $1.

At least a dozen U.S. telecommunications executives and investors may have received initial public offering shares from Citigroup Inc.'s Salomon Smith Barney unit in recent years, memos from the world's largest financial services company show. Salomon had a system to give IPO shares to executives of companies that the firm did investment banking business with, according to the memos subpoenaed by the House Financial Services Committee. The shares could be sold at a profit within hours or days.

The timing of coveted new stock allocations from Salomon Smith Barney to executives of WorldCom Inc. is shaping up as a potentially key question in a congressional probe into whether the brokerage doled out shares to win investment banking business. At issue is whether Salomon placed shares of late-1990s initial public offerings in the accounts of WorldCom executives after the shares had begun to trade.