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...DISTRIBUTION FUND. This fund, held by the Securities and Exchange Commission (SEC) and administered by a federal court appointee, will parcel out the nearly $400 million pot to investors who bought certain stocks--including AT&T, Global Crossing and Worldcom--through certain investment firms. A fund administrator will determine who can make a claim, and details will be posted on the SEC website sec.gov) Setting up a distribution plan could take a year. After a plan is announced, investors should have several months to respond. It's not clear whether mutual-fund investors, who lost plenty, will get anything...
...Enforcement officials at the Securities and Exchange Commission (sec) have recommended that the agency file suit against Becker, 36, and Zimmerman, 32, alleging that the couple illegally traded on insider information about the stocks of Avon Products, Drugstore.com and eBay. The story was first reported on financial-news channel CNBC and was confirmed by sources close to the investigation...
...allegations represent a new set of problems for Becker and Zimmerman, whom the sec notified in August of possible insider-trading charges stemming from Zimmerman's trades of Amazon.com in July 2002. By then, Becker had moved to Lehman Brothers, where she had presciently questioned the value of stocks like Amazon.com and Yahoo. Zimmerman was at another hedge fund, SAC Capital Advisors, based in Stamford, Conn., where he remains employed. SAC declined to comment. Becker was suspended from Lehman last August. Officials there would say only that the matter "does not involve the firm...
DISCLOSED, by AOL TIME WARNER, that federal regulators are investigating whether the company overstated its ad revenues by an additional $400 million; in a filing with the SEC. The company, which owns TIME, previously admitted overstating revenues by $190 million, but says in this case its accounting was correct...
Harvard reported owning 68,121 shares of Raytheon in a Securities and Exchange Commission (SEC) filing last quarter...