Not-Quite-Weekly Wells Notice Roundup
Who has been cordially invited to cooperate with federal securities authorites?
Kirlin Securities for one. They are facing potential disciplinary action from the NASD regarding alleged stock manipulation.
A former Citigroup executive, for another. Victor Menezes, former head of emerging markets for Citigroup is in the hot-seat regarding a 2002 sale of Citigroup shares.
Morgan Stanley also received a notice. The wells notice stems from Morgan Stanley's alleged witholding of evidentiary emails in response to a lawsuit brought by Revlon chairman Ron Perleman. Perleman contends that Morgan Stanley aided Sunbeam in inflating sales figures prior to Perleman picking up a load of Sumbean shares in a stock exchange.
Perleman is seeking nearly 3 billion in damages and according to company filings, Morgan Stanley has set aside $360 million in reserves to fight the suit. The judge in the Perleman case has already sanction Morgan Stanley over the email issue.
-- MDT
Kirlin Securities for one. They are facing potential disciplinary action from the NASD regarding alleged stock manipulation.
A former Citigroup executive, for another. Victor Menezes, former head of emerging markets for Citigroup is in the hot-seat regarding a 2002 sale of Citigroup shares.
Morgan Stanley also received a notice. The wells notice stems from Morgan Stanley's alleged witholding of evidentiary emails in response to a lawsuit brought by Revlon chairman Ron Perleman. Perleman contends that Morgan Stanley aided Sunbeam in inflating sales figures prior to Perleman picking up a load of Sumbean shares in a stock exchange.
Perleman is seeking nearly 3 billion in damages and according to company filings, Morgan Stanley has set aside $360 million in reserves to fight the suit. The judge in the Perleman case has already sanction Morgan Stanley over the email issue.
-- MDT
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