They allege wrongful termination and failure to disclose conflicts of interest involving analyst Jack Grubman.
Jack Grubman who was at Citibank at the time was raving about Qwest as an investment at the time.
Jack Grubman, a Salomon Smith Barney star analyst, even sat in on board meetings at WorldCom, a deeply corrupt telecoms firm, offering advice.
Contemplate the fall from grace of superstar analyst Jack Grubman of Salomon Smith Barney or the rise of just-elected New York Governor Eliot Spitzer.
Spitzer plans to end his probe into Citigroup and Weill but will continue to weigh possible charges against other individuals, notably former Salomon telecommunications analyst Jack Grubman.
Contemplate the fall from grace of superstar analyst Jack Grubman of Salomon Smith Barney or the rise of just elected New York Governor Eliot Spitzer.
Star analysts like Jack Grubman, who got nailed for hyping stocks in public while trashing them in private, leaving many individual investors stuck with losers.
The ousted brokers claim, among other things, that they--along with their clients--were duped by former Salomon telecom analyst Jack Grubman 's boosterism of WorldCom's stock.
Stars like Jack Grubman and Henry Blodget have left the industry, and a wave of equity researchers have jumped to the greener pastures of hedge funds and so-called buy-side firms.
Weill stepped down as CEO in the wake of the Wall Street scandal involving the way research analysts like Jack Grubman were intrinsically involved in obtaining new investment banking business.
One had only to witness the grilling that Salomon Smith Barney analyst Jack Grubman endured at the congressional WorldCom hearing last week to get a sense of how low Wall Street analysts have sunk.
The New York attorney has charged former Salomon star telecoms analyst Jack Grubman with being at the centre of a scheme that bribed executives with shares of hot new stocks in exchange for lucrative investment banking business.
That's when analysts like Merrill Lynch's Henry Blodget and Citigroup's Jack Grubman were found to have issued buy recommendations on tech stocks (which they had bashed in e-mails) at the behest of investment bankers looking to rake in fees.
The employment contract of former Salomon Smith Barney telecom analyst Jack Grubman granted him compensation both for bringing in specific investment banking deals and for generating stock trading volume in the issues he covered, according to an attorney familiar with the document.
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