CNBC
The flood of trading at online broker E*Trade Group Inc. slowed to a trickle again Thursday, as technical glitches prevented customers from buying and selling shares for the second straight day. The outage was not just damaging for E*Trade though, as it focused renewed attention on the reliability of the Web as conduit for stock […]
Washington Post
Thousands of customers of E-Trade Group were frozen out of the stock market during peak trading hours this morning, when the start-up trading house that rode technology to become a major player in the securities business was frozen by a software glitch. At 10:15 a.m., customers trying to buy and sell stocks online and through […]
Newsday
STRATTON OAKMONT, a large penny stock “boiler room” operation formerly based in Lake Success, left a trail of wreckage behind when regulators closed it for fraud in December, 1996. That wreckage has just begun to surface in court documents and reports as regulators and a bankruptcy trustee work to untangle the mess. Newsday earlier this […]
Unknown
Federal District Court Judge William Mathew Byrne, Jr. yesterday issued a ruling upholding the award of more than $700,000.00 in damages by an NASD arbitration panel. Susan Taus, a single mother of four, had filed her claim against Smith Barney and Prudential in September of 1997 alleging that they had breached their fiduciary duty to […]
Naples Daily News
Several days before New York and Florida agents raided his Port Royal mansion and stock brokerage firm in April, Anthony “Tony” Marchiano discovered an undercover agent had infiltrated his Naples office. The new guy, a cold caller, was quietly dismissed. Later, Marchiano’s wife told some of the brokers this: Marchiano carries a small device to […]