SECURITIES

Prudential Pays Out $749.5 Million in 99,604 Claims: Court documents show the settlements exceed the $660 million Prudential Securities Inc. deposited in a claims fund created as part of a 1993 settlement with government regulators. The brokerage will directly pay the costs above the claims pool from its reserves. “We have reserved for an amount higher than the fund,” Prudential spokesman Charles Perkins said. “It was expected and planned for. We reserved a very large amount in 1994 with the intent of covering all costs related to a settlement.” Prudential admitted defrauding limited partnership customers out of millions of dollars in the 1980s. It has incurred costs of more than $1.4 billion from the scandal, making it Wall Street’s most expensive debacle.