Posted on 03/01/2002 7:42:41 AM PST by Willie Green
Edited on 09/03/2002 4:50:01 AM PDT by Jim Robinson. [history]
CLEVELAND -- The co-founder of the company that makes Mr. Coffee filed a billion-dollar lawsuit Thursday against two firms that employed a broker suspected of cheating clients out of $277 million.
Samuel Glazer's lawsuit in U.S. District Court accuses Lehman Brothers Inc. and SG Cowen Corp. of allowing Frank Gruttadauria to conduct the 15-year scam "through greed, carelessness or both."
The lawsuit asks for $500 million in punitive damages against each firm and $40 million in lost money. It accuses the firms of fraud, breach of fiduciary duty, negligence, breach of contract and civil conspiracy.
(Excerpt) Read more at newsday.com ...
I was going to post that same comment along with the article, but then I forgot when I got involved creating the new bump-list.
I guess Great Minds Think Alike. (to use yet another cliche.)
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