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In a later settlement, Baxter and Pilgrim agreed to “pay $80 million – $60 million in disgorgement and $20 million in civil penalties.”. On December 18, 2003, the SEC “announced an enforcement action against Alliance Capital Management L.P. (Alliance Capital) for defrauding mutual fund investors. The SEC ordered Alliance Capital to pay ...
This settlement was the final resolution in an investigation of Putnam's payments to 80 brokers conducted over three years. [9] In 2006, 48 percent of Putnam's mutual funds scored in the top 50 percent compared with funds in their peer group, an increase of 8 percent from two years prior. [7]
Marsh & McLennan Companies, Inc., doing business as Marsh McLennan, is a global professional services firm, headquartered in New York City with businesses in insurance brokerage, risk management, reinsurance services, talent management, investment advisory, and management consulting. [3] Its four main operating companies are Marsh, Guy ...
The bankruptcy of Lehman Brothers, also known as the Crash of '08 and the Lehman Shock on September 15, 2008, was the climax of the subprime mortgage crisis. After the financial services firm was notified of a pending credit downgrade due to its heavy position in subprime mortgages, the Federal Reserve summoned several banks to negotiate ...
Facebook recently paid 1.4 million Illinois residents $397 in 2022 as part of a class action lawsuit for facial recognition breaches through its “Tag Suggestions” feature, per CNBC. Google is ...
On May 1, 2009, Irving Picard filed a lawsuit against Stanley Chais, 82. The complaint [68] alleged Chais "knew or should have known" he was deep in a Ponzi scheme when his family investments with Madoff averaged 40% annual returns on investment and sometimes soared as high as 300%. It also claimed Chais was a primary beneficiary of the scheme ...
Charles Edgar Haldeman, Jr. (born October 29, 1948) was the chief executive officer of the Federal Home Loan Mortgage Corporation, known as Freddie Mac, a publicly traded company that is the second largest source of mortgage financing in the United States. On October 26, 2011, it was announced that Haldeman would retire, but he agreed to stay ...
A venture capital firm has closed down a grant contest for Black women business owners as part of a settlement agreement with a conservative group that had filed a lawsuit alleging the program was ...