Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : TTRE (TTR Incorporated) -- Ignore unavailable to you. Want to Upgrade?

To: afrayem onigwecher who wrote (545)	4/2/2003 9:45:08 AM
From: StockDung	Read Replies (1) \| Respond to of 609

WEISEL PULLS OUT OF WALL ST. SETTLEMENT By JENNY ANDERSON April 2, 2003 -- Thomas Weisel Partners late yesterday dropped out of the long awaited agreement among 12 Wall Street firms and federal and state regulators to curb tainted research practices. In December 2002, 10 Wall Street firms signed onto a $1.4 billion agreement in principle to settle charges that they misled investors with overly bullish research. At the time, Weisel refused to sign on. By February it appeared Weisel had come to terms with regulators, agreeing to a smaller fee of $12.5 million - peanuts compared to the $400 million Citigroup's Salomon Smith Barney will have to pay or the $200 million that Credit Suisse First Boston will fork over. But late yesterday, reports in the Los Angeles Times and Bloomberg said the firm backed out of the agreement again. No reason was given for the move. A settlement is expected by the end of the week. The investigation, led by Attorney General Eliot Spitzer, focused on the Street's bullish research and the fact that some analysts privately disparaged stocks they publicly touted. Spitzer initiated the investigation and was later joined by the Securities and Exchange Commission, the NASD and the New York Stock Exchange. Weisel did not return calls. Regulators could not be reached.