Morgan Stanley and Goldman Sachs agreed Tuesday to pay $40 million each to settle regulators' allegations that they improperly doled out shares of hot new stocks to certain customers to get them to buy more at inflated prices once trading began. The SEC's enforcement director said the cases "underscore the Commission's resolve to ensure the integrity of IPO markets by prohibiting conduct that could artificially stimulate demand or higher prices in the aftermarket."
January 26, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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