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> GS and MS Fined by SEC
post Jun 22 2004, 10:58 AM [ Post #1 ]

Christopher Paige

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Crains and Bloomberg.com are both reporting on a settlement Goldman Sachs and Morgan Stanley agree to be fine to settle charges against them by the SEC that they fixed IPO offerings.

Crains reports the settlement about as $80 million, while Bloomberg reports the fine at $40 million

June 22 (Bloomberg) -- Goldman Sachs Group Inc. and Morgan Stanley tentatively agreed to pay $40 million each to settle Securities and Exchange Commission allegations that they improperly awarded shares in initial public offerings between 1999 and 2000, the Wall Street Journal reported, citing people familiar with the talks. http://quote.bloomberg.com/apps/news?pid=1...vSTR8k&refer=us

Crains is also reporting that Morgan Stanley and Goldman reported 103% and 71% rise in earnings

Christopher Paige
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