TITLE

Litigation Reserves Up At JPM, Morgan Stanley

PUB. DATE
April 2005
SOURCE
Investment Dealers' Digest;4/18/2005, Vol. 71 Issue 15, p55
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the business activities of investment banks in the United States. Several investment banks are reporting lower earnings, after setting aside millions of dollars to settle investor lawsuits. And more are on their way. The biggest hit this quarter is being taken by JP Morgan, which will release first-quarter earnings on April 20, 2005. And last week, Morgan Stanley said that net income for the quarter would decline to $1.40 billion, from $1.47 billion, after it adds $100 million to its $260 million litigation reserve.
ACCESSION #
16788776

 

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