BUSINESS
May 11, 1993 | From Times Staff and Wire Reports
Smith Barney Lays Off 1,500: Primerica Corp.'s Smith Barney brokerage said it expects to lay off up to 1,500 people because of its merger with Shearson Lehman Bros. Inc. The two companies announced in March that Primerica would buy Shearson, which is owned by American Express Co., and merge it with Smith Barney. A spokesman said in New York that the layoffs would be in a range of 1,200 to 1,500.
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.
NEWS
July 25, 1992 | SCOT J. PALTROW, TIMES STAFF WRITER
The Securities and Exchange Commission has begun an inquiry into whether several of Wall Street's biggest investment houses are failing to weed out stockbrokers who repeatedly cheat individual investors. Seven brokerage firms confirmed Friday that they have received official letters of inquiry from the SEC, which took the action following a series of stories in The Times earlier this month on abuses in the retail brokerage industry.
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
October 10, 1997 | From Associated Press
Smith Barney has reached a tentative deal to settle a sex-harassment lawsuit probably best known for its allegations of a "boom boom room" in a branch office's basement where male workers engaged in lewd fraternity-house antics. The disclosure was made in federal court Thursday by lawyers for the New York-based brokerage firm and the 26 former and current female workers who claimed they were subjected to obscene behavior by brokers and managers for years.
BUSINESS
August 3, 1988
Smith Barney, Harris Upham & Co. has become the second brokerage firm investigating possible involvement of California employees in the growing Business Week scandal. The firm confirmed Tuesday that it is conducting an internal investigation of a California office amid reports that a sales assistant and a broker may have made trades similar to those of an active customer who had information about stock tips to be published in the magazine's "Inside Wall Street" column.