Monthly Archives: February 2004
CIBC ex-trader is accused of fraud
A former trader at Canadian Imperial Bank of Commerce has been charged with larceny and securities fraud, accused of financing illegal mutual fund trades. The trader, Paul Flynn, of Larchmont, New York, is the latest in a growing list of […]
Franklin Templeton Parent Accused of Fraud
In the latest legal blow to a major mutual fund company, Massachusetts regulators accused the parent company of Franklin Templeton Investments of fraud, alleging the firm let a Las Vegas businessmanmake $45 million worth of improper mutual fund trades in […]
Bernstein Liebhard & Lifshitz, LLP Announces Class Action Lawsuit Commenced Against Capital Management Investors Holding and Security Trust Company Concerning Various Mutual Funds
A class action lawsuit was commenced in the United States District Court for the District of Arizona on behalf of all persons (the “Class”) who purchased or otherwise acquired shares or other ownership units of one or more of a […]
Mutual-Fund Giant Franklin Resources Charged With Fraud
Feb. 5–Regulators charged the nation’s fourth-largest mutual-fund company, Franklin Resources of San Mateo, with fraud Wednesday for permitting an unethical arrangement in 2001 that enriched topexecutives and select clients at the expense of average investors. Massachusetts regulators charged that Franklin […]
Regulators accuse Franklin Resources
Massachusetts regulators accused mutual fund giant Franklin Resources of civil fraud Wednesday, saying the firm engaged in a frequent-trading scheme with a wealthy investor. In the enforcement action, Massachusetts Secretary of State William Galvin alleged that Franklin Resources, the fourth-largest […]
SEC probes fund tied to U.S. Bancorp
SEC probes fund tied to U.S. Bancorp City firm says it told agency of trade concerns By PAUL GORES [email protected], Journal Sentinel Wednesday, February 4, 2004 Federal securities regulators are conducting an inquiry into a Milwaukee mutual fund affiliated with […]
Tokyo Stocks Further Down in Morning on Weaker Dollar
Tokyo, Feb. 4 (Jiji Press)–Stocks ceded further ground on the Tokyo Stock Exchange Wednesday morning, as the dollar’s continued weakness weighed on shares of major high technology firms andautomakers. At the morning close, the 225-issue Nikkei average stood down 128.16 […]
Janus Reports $63M in Fourth-Quarter Costs
Janus Capital Group Inc. reported $62.8 million in fourth-quarter costs related to mutual fund investigations Wednesday, putting a slight crimp in earnings for the period that surged on a one-timegain. The Denver-based company reported net income of $812.9 million, or […]
Franklin Funds Parent Accused of Fraud
BOSTON (AP) – State regulators accused the parent company of mutual fund firm Franklin Templeton of fraud Wednesday for allegedly allowing a Las Vegas businessman to market time $45 million in mutualfunds in exchange for a $10 million investment in […]
Hedge Watch
A NEW index of hedge funds is to join the FTSE 100 and the FTSE All Share among the barometers of investment returns. FTSE Group announced plans to launch FTSE Hedge, an index reflecting theperformance of 40 hedge funds worldwide, […]
Shell gets jitters ahead of crunch day for chairman ; Market Report
THE City fears tomorrow could be D-Day for oil giant Shell when it unveils fourth-quarter and full year results. Fourth-quarter earnings are expected to be down by almost a third after a previously announced write-off totalling Pounds 1 billion. Analysts […]
Nightly Business Report
xfdce NIGHTLY-BUSINESS-REPO-00 Show: NIGHTLY BUSINESS REPORT> Date: February 4, 2004> Time: 18:30:00> Tran: 020400cb.118> Type: SHOW> Head: Nightly Business Report> Sect: Business> Byline: Susie Gharib, Jeff Yastine> Guest: Ronald Sugar, Kevin McCormally> Spec: Business; Economy> Time: 00:00:00> SUSIE GHARIB, NIGHTLY […]