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New York Attorney General Eliot Spitzer is suing WorldCom's former chief executive and four other telecommunications executives for allegedly taking millions in profits from initial public offerings in exchange for steering banking business to Salomon Smith Barney Inc. Spitzer says the executives directed lucrative investment banking deals to Salomon, and Salomon in return allocated the executives shares of hot IPOs.
October 01, 2002 at 12:00 AM
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The original version of this story was published on Law.Com
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