graphic
graphic  
graphic
News  
graphic
Analyst probe hits Salomon
N.Y. attorney general subpoenas communications from Jack Grubman, firm's top telecom analyst.
April 25, 2002: 8:05 AM EDT

NEW YORK (CNN/Money) - The New York state attorney general issued a subpoena to Salomon Smith Barney requesting copies of all documents authored by the firm's top telecom analyst, Jack Grubman, widening the probe into possible conflicts of interest among Wall Street analysts, a newspaper reported Thursday.

The subpoena requests the release of all communication between Grubman's research team and the firm's banking group as well as any information pertaining to how Grubman's team was paid, according to a Salomon document dated April 11, the New York Times said.

graphic
graphic graphic
graphic
Attorney General Eliot Spitzer requested documents dating back to January 1998 related to 54 telecommunications companies, all but one of which Grubman wrote reports on, the Times said.

In his investigation of possible conflicts between companies that pay firms for financial services and whose analysts also have recommended their stock to investors, Spitzer is focusing on those instances where investors have lost large sums of money after taking analysts' advice.  Top of page


  RELATED LINKS




  graphic

© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.