Firm to Pay Customers: Donaldson, Lufkin &...
From Times Staff and Wire Reports
Firm to Pay Customers: Donaldson, Lufkin & Jenrette Securities agreed to pay back $5.6 million to customers for stock sold in partial tender offers without prior client approval, federal officials said. The New York-based securities firm and a managing director, Michael Dreitlein, agreed to settle--without admitting or denying wrongdoing--an administrative action alleging that they violated SEC anti-fraud and record-keeping rules.
