Everen Owes Issuers $310,000 in Yield-Burning Pact
- Chicago yield-burning suit targets dealers, accountants. Shields, Yvette; Hume, Lynn // Bond Buyer;04/12/99, Vol. 328 Issue 30617, p1
Cites the federal class-action lawsuit filed against Everen Securities Inc. and Prudential Securities Inc. for overcharging Chicago, Illinois on two advance refunding deals. First yield-burning litigation in Illinois; First case of its kind to name as co-defendants the accounting firms that...
- Saga Shows Maintaining Tax Exemption a Priority for IRS. Kinnander, Ola // Bond Buyer;04/07/2000, Vol. 332 Issue 30866, p5
Reports that several securities dealer companies have settled their yield burning cases with the United States government as of April 7, 2000. Details of the agreement; Names of companies involved in the case; US Internal Revenue Service's willingness to protect the tax-exempt status of the...
- Yield-burning suit too late, judge says. Shields, Yvette // Bond Buyer;12/13/99, Vol. 330 Issue 30786, p1
Cites United States Magistrate Martin C. Ashman's recommended dismissal of a lawsuit alleging yield burning by Prudential Securities Inc. and Everen Securities Inc. on two Chicago, Illinois refunding deals. Expiration of the statute of limitations on the case's federal claims; Chicago...
- 1st Union, Others Settle Yield-Burn Charges. // American Banker;11/2/2000, Vol. 165 Issue 211, p2
Reports on the agreement between First Union Securities Inc. and three others to pay $14.7 million to settle federal yield-burning charges stemming from their business in the municipal securities market in the United States. Definition of yield-burning.
- EVEREN transforms securities into a work of art. Heath, Tracy // National Real Estate Investor;Jan98, Vol. 40 Issue 1, p38
Focuses on the success of the Chicago, Illinois-based real estate group of EVEREN Securities Inc. Areas of expertise; Method by which EVEREN determines which industries it will be involved in; EVEREN's edge over competitors in terms of research capabilities; Success in partnering heavy research...
- Everen Securities underwrites $1 billion in transactions. Henry, Randy // National Real Estate Investor;Sep97, Vol. 39 Issue 9, p24
Reports that Chicago, Illinois-based Everen Securities Inc.'s Real Estate Group has underwritten one billion dollars in funding for 12 transactions.
- Increased volume lures Everen back into Texas municipal trading. Preston, Darrell // Bond Buyer;08/21/97, Vol. 321 Issue 30214, p2
Announces the return of Everen Securities Inc. to the trading of municipal bonds in Texas. Appointment of Ken Pittman as head of Everen's trading desk; Business profile.
- Subpoenas Issued In Prudential Case. // American Banker;10/20/2003, Vol. 168 Issue 201, p23
States that Fidelity Investments, Franklin Templeton Investments, and Morgan Stanley received subpoenas from Massachusetts Secretary of State William F. Galvin. Investigation of the companies on whether sales representatives gave confidential information to Prudential Securities brokers; Issue...
- New Everen hire for Boston office. Williamson, Tammy // Bond Buyer;09/22/98, Vol. 325 Issue 30483, p28
Reports that Everen Securities Corp. has hired Mike Festa, a Dain Rauscher Inc. municipal bond salesman, to operate municipal bond operations out of its Boston, Massachusetts office. Highlights of Festa's career in municipal bond selling; Background on Everen's municipal trading operations.