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May 27, 1987 | Associated Press
Primerica Corp., the former American Can Co., said today it agreed to acquire the closely held investment firm Smith Barney Inc. for $750 million in cash. Smith Barney is the New York-based parent of Smith Barney, Harris Upham & Co., a medium-size investment bank and securities brokerage that is one of Wall Street's oldest firms, having been founded in 1873.
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BUSINESS
August 1, 2007 | From Times Wire Services
Citigroup Inc.'s Smith Barney agreed to resolve sex-bias claims by female brokers who said the company continued to discriminate against women after a 1997 sexual-harassment settlement. The monetary terms weren't revealed in a document disclosing the settlement and filed Monday in San Francisco federal court. The suit was brought in 2005, originally by four female brokers who claimed that Smith Barney steered accounts to their male counterparts, making it harder for women to earn commissions.
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BUSINESS
August 1, 2007 | From Times Wire Services
Citigroup Inc.'s Smith Barney agreed to resolve sex-bias claims by female brokers who said the company continued to discriminate against women after a 1997 sexual-harassment settlement. The monetary terms weren't revealed in a document disclosing the settlement and filed Monday in San Francisco federal court. The suit was brought in 2005, originally by four female brokers who claimed that Smith Barney steered accounts to their male counterparts, making it harder for women to earn commissions.
BUSINESS
June 2, 2006 | From Bloomberg News
In arguments before the California Supreme Court on Thursday, Citigroup Inc.'s Smith Barney brokerage unit defended tape-recording phone calls with California customers without their consent, saying the state's law requiring their approval doesn't apply in other states. Smith Barney said employees in Georgia who recorded conversations with Californians were bound only by Georgia law, which requires the consent of only one party.
BUSINESS
March 4, 2004 | From Bloomberg News
Citigroup Inc. said its Smith Barney unit hired Ed Kerschner, formerly of UBS, as its U.S. chief investment officer. UBS said in July that Kerschner would leave at the end of 2003 as chief global strategist. He had worked for 21 years at Paine Webber, which UBS bought in 2000. Kerschner was a runner-up in 2002 in Institutional Investor magazine's survey of the top U.S. Wall Street strategists. From Bloomberg News
BUSINESS
July 3, 1998 | Bloomberg News
Smith Barney Inc. and lawyers for women who sued the New York-based company alleging sex discrimination proposed an amended settlement to the federal judge who rejected their previous agreement. The nation's No. 2 brokerage offered to let the judge, rather than an arbitrator, decide disputes over how money for Smith Barney's affirmative action program for women should be spent.
BUSINESS
April 1, 2005 | From Bloomberg News
One current and three former female brokers sued Citigroup Inc.'s Smith Barney unit Thursday, accusing the brokerage of discriminating against them and other female employees. The suit, filed in federal court in San Francisco, claims that Smith Barney steered accounts to male brokers and gave women fewer opportunities to increase their commissions.
BUSINESS
November 19, 1997 | Bloomberg News
To settle a discrimination lawsuit filed by female workers, Smith Barney Inc. has agreed to resolve future sex-discrimination complaints through an outside mediator, establish an unlimited fund to pay winning claims and set hiring quotas. "This is the most expansive diversity program that we will see in corporate America," plaintiff attorney Linda Friedman said at a hearing in federal court in New York.
BUSINESS
October 24, 2003 | From Bloomberg News
Citigroup Inc.'s Smith Barney fired four brokers Thursday for rapid trading of mutual fund shares as state regulators said they might file more charges against firms and investors involved in improper transactions. Smith Barney made the dismissals for "inappropriate behavior related to market timing" of mutual funds, said spokeswoman Susan Thomson, who wouldn't name the brokers.
BUSINESS
November 10, 1998 | Bloomberg News
Citigroup Inc. said Steven Black, global head of equities at its Salomon Smith Barney Inc. securities unit, resigned in an ongoing reshuffle at the top of the world's biggest financial services company. Separately, Citigroup, whose stock has been hampered recently by concerns about the integration of Citicorp and Travelers Group into Citigroup, said it was buying back $2 billion of its own stock.
BUSINESS
April 1, 2005 | From Bloomberg News
One current and three former female brokers sued Citigroup Inc.'s Smith Barney unit Thursday, accusing the brokerage of discriminating against them and other female employees. The suit, filed in federal court in San Francisco, claims that Smith Barney steered accounts to male brokers and gave women fewer opportunities to increase their commissions.
BUSINESS
April 7, 2004 | From Dow Jones Newswires
As Adelphia Communications Corp.'s stock price tanked in late 2001 and 2002, tens of millions of dollars in cash were wired to Smith Barney to cover the Rigas family's margin loan, a broker testified Tuesday. Highland Communications, a Rigas-owned entity, had a $100-million margin loan through Smith Barney, broker Richard Cavallaro testified in the fraud trial of former Adelphia Chairman John Rigas, two of his sons and a fourth former executive.
BUSINESS
April 6, 2004 | From Reuters
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.
BUSINESS
March 4, 2004 | From Bloomberg News
Citigroup Inc. said its Smith Barney unit hired Ed Kerschner, formerly of UBS, as its U.S. chief investment officer. UBS said in July that Kerschner would leave at the end of 2003 as chief global strategist. He had worked for 21 years at Paine Webber, which UBS bought in 2000. Kerschner was a runner-up in 2002 in Institutional Investor magazine's survey of the top U.S. Wall Street strategists. From Bloomberg News
BUSINESS
November 6, 2003 | Elizabeth Douglass, Times Staff Writer
Safeway Inc. took two hits Wednesday, as a ratings agency raised a cautionary flag on its debt and Smith Barney downgraded the company's stock to a "sell," citing in part the "likely damaging effect" of the Southland supermarket strike. The downgrade is the first by a major Wall Street brokerage since the United Food and Commercial Workers union went on strike Oct. 11 against Pleasanton, Calif.-based Safeway's Vons and Pavilions stores. Ralphs and Albertsons Inc.
BUSINESS
October 24, 2003 | From Bloomberg News
Citigroup Inc.'s Smith Barney fired four brokers Thursday for rapid trading of mutual fund shares as state regulators said they might file more charges against firms and investors involved in improper transactions. Smith Barney made the dismissals for "inappropriate behavior related to market timing" of mutual funds, said spokeswoman Susan Thomson, who wouldn't name the brokers.
BUSINESS
August 24, 1988 | Associated Press
Smith Barney, Harris Upham & Co. confirmed that it dismissed five top executives in an effort to reduce costs in its public finance division. Among those let go were Edward Tirrel, Oscar Carlson, Michael Cherry and James Williams, all managing directors, and J. Dale Lehman, a vice president, a company official said Tuesday. The official said 110 employees remain in the public finance department.
BUSINESS
November 9, 1988
Lewis L. Glucksman, the one-time leader of the investment firm Lehman Bros., has been appointed a vice chairman of the brokerage Smith Barney, Harris Upham & Co. Starting Nov. 12, Glucksman will manage Smith Barney's capital markets group, which involves supervising principal trading in fixed-income and equities securities. He will also chair Smith Barney's credit policy committee, which oversees the firm's credit decisions.
BUSINESS
August 23, 2003 | From Bloomberg News and Reuters
Citigroup Inc.'s Smith Barney unit was fined $1 million by the New York Stock Exchange for failing to supervise brokers who encouraged WorldCom Inc. employees to borrow money to buy stock in the now-bankrupt telecom firm when it was flying high. NYSE spokesman Richard Adamonis confirmed the penalty, which was disclosed in a regulatory filing for Michael Grace, a former Smith Barney branch manager in Atlanta.
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