SEC Investigates Wachovia Analyst Firing

Law360, New York (November 16, 2005, 12:00 AM EST) -- A Wachovia Corp. analyst who may have been fired for his refusal to allow investment bankers to influence his reports has prompted the Securities and Exchange Commission to begin an investigation into the situation.

Arturo Cifuentes, a former fixed income research analyst for Wachovia, was fired in April after allegedly refusing to state that his pay was not based on the recommendations he issued.

Cifuentes filed a suit with the Labor Department earlier this year, claiming that investment bankers tried to influence his reports to positively...
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