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The Bank of America Corporation agreed yesterday to pay $69 million to settle a suit by Enron investors over the bank's role as underwriter for some debt offerings.
Joan Greene, a senior vice president for the investment banking firm Ryan, Beck & Company, appearing in a videotaped deposition because of illness, testified that she was told in 1991 that to get the job as underwriter for the Irvington bond issue she had to talk with Mr. Gibson.
The worst case for the public finances is that one or more of the rights issues fails and shares end up with the government, as underwriter for the issue, but nothing would be lost compared to the other option on the table, partial nationalisation by issue of preference shares, as long as the rights issue price is less than the government would have paid for a stake anyway.
Bank of America Securities acted as underwriter for the offering and it fully exercised its option to purchase additional shares.
Citigroup served as underwriter for nearly a third of the combined $17 billion debt offering, of which only $1.5 billion was paid out.
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| Apparently undaunted by market troubles, the insurance software vendor Guidewire has hired JPMorgan Chase and Deutsche Bank as underwriters for an initial public offering that has been expected for the last two years.
Shares | The Treasury Department said on Tuesday that it had sold an additional $2.7 billion worth of its holdings in A.I.G., as underwriters for the offering exercised what is known as an overallotment option to meet higher-than-expected demand.
The Treasury Department said on Tuesday that it had sold an additional $2.7 billion worth of its holdings in the bailed-out insurance giant, as underwriters for the offering exercised what's known as an overallotment option to meet higher-than-expected demand.
BofA Merrill Lynch, Deutsche Bank Securities and Citigroup were listed as underwriters for the offering.
Then last month the Wall Street Journal reported that Inrix had hired Goldman Sachs and JP Morgan as underwriters for the IPO.
Confirming an earlier report by the Wall Street Journal, sources tell us that Morgan Stanley, Citigroup and Allen & Co. have been selected as underwriters for the offering.
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CEO of Professional Science Editing for Scientists @ prosciediting.com