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Non-Tech : Goldman Sachs Group Inc. NYSE:GS -- Ignore unavailable to you. Want to Upgrade?

To: kansas517 who wrote (133)	5/8/1999 12:40:00 PM
From: Mohan Marette	Respond to of 411

Datek Online Mistakenly Sold Goldman Stock in IPO, WSJ Reports You guys are in the Wall Street Journal. =========================== Bloomberg News May 7, 1999, 1:12 p.m. PT New York, May 7 (Bloomberg) -- Datek Online Holdings Corp.,an online brokerage firm, sold Goldman Sachs Group Inc. stock to 500 of its brokerage customers last week, who were told yesterday those shares don't exist, the Wall Street Journal reported. Goldman officials blamed the mistake on Datek, denying Datek's assertion that it was promised an allotment of 57,500 shares in the investment bank's initial public offering. Datek's chief marketing officer, Rob Bethge, said this was Datek's first IPO, and that there may have been some ''communications errors,'' although he doesn't believe Datek was responsible for the problem, the newspaper said. Goldman raised $3.66 billion Tuesday in the second-biggest initial public offering in the U.S., as demand for the 14.8 percent stake exceeded the number of shares offered by at least 10 times, with most shares going to Goldman institutional clients and some of its wealthiest investors.