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

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.