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Progress regarding asset allocation has been uneven and, at times, interrupted by misleading research.
Judge Baer ruled that the investors failed to show sufficient evidence that losses in Covad were tied directly to misleading research.
Biovail's lawsuit, initially filed under civil racketeering laws but later changed to a trade libel suit, accused SAC of colluding with independent firms and analysts at big banks to produce purposely misleading research intended to drive down Biovail's share price.
Regulators from the securities industry sued Jack B. Grubman, the former analyst at Salomon Smith Barney, and an assistant yesterday, contending they wrote misleading research on the telecommunications company Winstar Communications.
[C2.] Morgan Stanley said it hired Eric Dinallo, the lawyer who guided the New York attorney general's investigation into misleading research on Wall Street, as head of the department that deals with regulators.
Through the $100 million settlement with Merrill Lynch in May over misleading research, Spitzer jumped ahead of the SROs in disciplining a banking institution.
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Disclosing a non-validated association could therefore mislead research participants about anticipated response or disease risk.
In a remarkably rapidly advancing field of research, although such conflicts are apt to happen, it may mislead researchers who attempt to utilize published but misused gene names.
The firm's shares fell sharply.Eliot Spitzer's latest ploy in his campaign against Merrill Lynch was a threat from the New York state attorney-general to force senior bank employees to testify in court about misleading investment research.
Citigroup's problems last year many of which involved other top investment banks–stemmed from allegations of misleading stock research and questions over its role in the demise of Enron.
Citigroup Citigroup, which recently paid the Federal Trade Commission $215 million to settle predatory lending charges and the National Association of Securities Dealers $5 million following claims of misleading stock research, is said to be contemplating a complete split between bankers and stock analysts at investment bank Salomon Smith Barney.
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