Prudential Financial and a subsidiary have agreed to pay $600 million in penalties to resolve government allegations of deceptive market timing in the trading of mutual funds. The Justice Department will file a criminal information against Prudential Financial and its subsidiary, Prudential Equity Group, but has agreed to defer prosecution so long as the [...]
Securities firm Morgan Stanley has agreed to pay $42.5 million to settle a lawsuit by California brokers who demanded overtime pay. The suit, filed on behalf of some 5,000 current and former brokers and trainees in California, alleged that Morgan Stanley failed to pay them overtime. The suit, filed in federal court in San [...]
