CSFB Pays $100 Million For IPO Abuse

from the but-no-admission-of-guilt,-of-course dept

CSFB has agreed to pay federal regulators $100 million fine for some of their “abuses” in allocating IPO shares. We had posted this same info back in December but now it’s official. As we said then, CSFB isn’t admitting any guilt, they’re just paying up to get the SEC off their backs. So, I’m wondering what the SEC does with this money? Do they give it to the people that CSFB screwed over? I doubt it.

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Comments on “CSFB Pays $100 Million For IPO Abuse”

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Ed says:


I’d normally say that this would open the floodgates for everyone-and-his-brother-who-lost-a-buck-on-a-dot-com-IPO to sue CSFB, their non-admission of guilt notwithstanding, but I suppose that there are already a lot of class action suits pending, probably filed the instant any of the stocks they brought to market fizzled. Of course, I doubt that any investors will ever see a dime.

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