Millions Left Over In Research Scandal Settlement

Law360 (May 24, 2006, 12:00 AM EDT) -- Despite the triumphant efforts of regulators to tackle dishonest research analysts two years ago, compensation of $164.3 million remains uncollected by thousands of investors who were affected by faulty information from Wall Street.

The leftover funds – part of $1.4 billion pledged by investment banks in April 2004 – will now be the subject of a hearing July 7 before Judge William Pauley in the U.S. District Court for the Southern District of New York.

A global distribution plan for the funds was approved in April...
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