Business Services Industry
Lehman Brothers' Work on California Electronics Maker Drew SEC Complaint.
Knight Ridder/Tribune Business News, August, 2003
By Jim Finkle, The Orange County Register, Calif. Knight Ridder/Tribune Business News
Aug. 26--Although Lehman Brothers is one of four investment banks that took DDi public, it's the only one whose research on DDi was cited by the SEC in its complaints against the securities industry.
The SEC hasn't accused DDi or Bain Capital, DDi's biggest shareholder at the time of the IPO, of doing anything wrong. It has said Lehman bankers pressured analysts to lie about how they really felt about DDi and other stocks so those companies would be more inclined to give the brokerage lucrative investment-banking business. Analysts' coverage tends to create buzz about a stock and make it more attractive to brokers and investors.
DDi paid more than $14...
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