Investor awarded record $13.1 million

Article Abstract:

Stratton Oakmont's former investor, former Navy pilot Edward Howard of Seymour, IN, has been awarded a record $13.1 million as payment for the damages that the Long Island, NY, stock firm caused him. According to the arbitration ruling that was handed on Aug. 14, 1998, Stratton intentionally misled Howard into purchasing risky stock that cause him to incur a loss of $767,000. Of the $13.1 million award, $10.5 million is punitive damages, based on what the arbitrators called "intentional acts" by now-defunct Stratton. Former Stratton CEO Daniel Porush will pay $7.5 million of the award as many of the Stratton executives included in the case already filed for bankruptcy.

Comment:

Former investor, Edward Howard, has been awarded a record $13.1 mil as payment for damages that co caused him

Stockholder data, Stratton Oakmont Inc.

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Judge approves Smith Barney bias settlement

Article Abstract:

Salomon Smith Barney's settlement with thousands of women concerning sexual harassment and discrimination charges was approved by a US District Judge. Judge Constance Baker Motley's approval of the modified settlement came after she refused to approve the initial proposal because of the diversity training concerns that were pledged by the company. The settlement calls for Salomon Smith Barney's close monitoring of the diversity training, the dispute hearings and the receipt of the annual audits. The company has also promised to allocate $15 million over a four-year period for the training.

Comment:

Its settlement with thousands of women concerning sexual harassment and discrimination charges is approved

Salomon Smith Barney Holdings Inc.

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New Yorkers, you may have won a $60 legal settlement

Article Abstract:

American Family Publishers has agreed to pay a $800,000 settlement that would pay 12,000 people in New York $60 each for magazine subscriptions that were part of a deceptive sweepstakes promotion. People bought magazines in their belief that the purcahses would give them better chances of winning in the company's sweepstakes. According to New York Attorney General Dennis Vacco, the settlement in the state would prompt the publisher, which also agreed to a $1.2-million settlement with 32 other states, to alter its marketing practices.

Comment:

Agrees to pay $800,000 settlement for magazine subscriptions that were part of deceptive sweeptakes promotion

Periodicals, Periodical Publishers, Periodical publishing, American Family Publishers

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