RE: CIBC TargetMaybe Wi-Lan knows they don't need to pay for protection.
Globe says RIM hears U.S. moves against bogus analysis
2003-04-16 08:16 ET - In the News
The Globe and Mail reports in its Wednesday edition that New York State's crusading Attorney-General, Eliot Spitzer, has warned of looming prosecutions against analysts over bogus stock recommendations, the final stage in his plan to clean up Wall Street. The Globe's Janet McFarland writes that Mr. Spitzer, who oversaw a $1.4-billion (U.S.) settlement in December with 10 of the largest brokerage firms on Wall Street, acknowledged that many investors remain skeptical that justice has been served when few individuals have faced prosecution, few have had to give up ill-gotten profits and few have even been required to admit wrongdoing when settling cases. "Down the road, there will be individual enforcement actions," Mr. Spitzer pledged. Richard Grasso, chief executive officer of the New York Stock Exchange, said executives involved in wrongdoing should not be able to walk away with their wealth and have it sheltered by state laws that protect certain personal assets from seizure. (Research in Motion became embroiled in the controversy when it was revealed through E-mails that Credit Suisse First Boston may have used its power to withhold analyst coverage to extract or collect