NEW YORK -- A U.S. judge on Friday approved a $1.4 billion settlement between financial regulators and 10 Wall Street firms accused of misleading investors with biased stock research. Judge William Pauley's approval finalizes a pact reached in April and makes official changes that affect research on thousands of U.S. stocks. The settlement came as a result of sweeping investigations into conflicts of interest on Wall Street by a group of regulators led by New York Attorney General Eliot Spitzer, who accused the brokerages of issuing biased research to attract investment banking business.
Posted by Editor at November 3, 2003 10:59 AM