SEC LISTS STOCKS FOR INVESTOR REBATES
By JENNY ANDERSON
July 19, 2003 -- Line up and try to get some cash back.
The SEC is releasing the names of bum stocks for which investors many now be eligible for restitution, because the shares had been pushed by investment banks with conflicts of interest.
Ten banks that settled conflict charges with the SEC pushed the stocks, which include the likes of WorldCom, Level 3, AT&T and Global Crossing.
Of all the banks now liable, Morgan Stanley has the longest list of stocks, among them eBay, AOL, and Compaq, as well as dot-bombs like LoudCloud and Drugstore.com.
Among the other stocks on the list for all the banks are: Agilent Technologies, Go.com, Pets.com, Metromedia Fiber Networks, Williams Comunications, Adelphia, RCN, Qwest, Winstar, McLeod, Gemstar-TV Guide, 360 Networks, KPMG, Accenture, RealNetworks, Compaq, Texas Instruments, Micron Technology, Intel, Hearst, Sotheby's, Priceline, Ask Jeeves, Marimba, Homestore.com, Akamai, Inktomi, JDS Uniphase, Razorfish, CNET, and Just for Feet.
The SEC released the stocks, and the banks that pushed them, in response to a judge's questions about the $1.4 billion global research settlement yesterday.It is the second request made by Judge William Pauley for clarification of the details of the contentious settlement reached in April.
The SEC also clarified that the requirements laid out in the global settlement with respect to separating investment banking and research are applicable to each bank's foreign subsidiaries and affiliates.
And the SEC listed a variety of other cases that have been approved in which all the details of allocation of funds were not finalized. |
