We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for real-time alerts, custom portfolio, and market movers
| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Goldman Sachs Group Inc | NYSE:GS | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 7.85 | 1.87% | 427.90 | 428.53 | 419.64 | 420.23 | 2,322,677 | 00:49:51 |
From Apr 2019 to Apr 2024
By Chelsey Dulaney
The Financial Industry Regulatory Authority said Thursday that it has fined 10 firms, including Barclays Capital Inc. and Goldman, Sachs & Co., a total of $43.5 million for offering favorable coverage of Toys"R"Us's failed 2010 initial public offering to secure a spot as underwriters on the offering.
The fines range from $2.5 million for Needham & Company LLC to $5 million on Citigroup Global Markets Inc. Credit Suisse Securities (USA), LLC; J.P. Morgan Securities LLC; Deutsche Bank Securities Inc.; Merrill Lynch, Pierce, Fenner & Smith Inc.; Morgan Stanley & Co., LLC; and Wells Fargo Securities, LLC were also fined.
Finra said that in April 2010, Toys"R"Us invited the 10 firms to compete for a role in its planned IPO. The company in May 2010 disclosed plans to raise up to $800 million in new shares.
Toys"R"Us asked the analysts to make presentations to management in an effort to ensure that the analysts' views on issues such as valuation factors aligned with the firms' investment bankers, Finra said. Some of the analysts voiced a positive outlook on Toys"R"Us and its potential IPO during their presentations, Finra said.
Toys"R"Us offered the 10 firms roles in the IPO, but didn't end up proceeding with the offering.
Finra also said that Barclays, Citigroup, Credit Suisse, Goldman Sachs, J.P. Morgan and Needham didn't have adequate procedures in place for research analyst participation in investment banking pitches.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
Access Investor Kit for Credit Suisse Group AG
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=CH0012138530
Access Investor Kit for Barclays Plc
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=GB0031348658
Access Investor Kit for Barclays Plc
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US06738E2046
Access Investor Kit for Citigroup, Inc.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US1729674242
Access Investor Kit for Credit Suisse Group AG
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US2254011081
Access Investor Kit for The Goldman Sachs Group, Inc.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US38141G1040
Access Investor Kit for JPMorgan Chase & Co.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US46625H1005
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year Goldman Sachs Chart |
1 Month Goldman Sachs Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
