RBS May Depart Cash Equities Business: Report
The Royal Bank of Scotland, the largest government-owned bank in Britain, will announce later this week that it will exit the cash equities business. The division will either be sold or, if no buyers are found, shut down.
Lawsuit: Hedge Funds Helped Lazard Inflate Its IPO Price
NEW YORK (HedgeWorld)--A plaintiffs' law firm filed a class action July 15 against Lazard Ltd., various named individuals and Goldman Sachs, claiming that the defendants artificially inflated Lazard's price at its initial public offering in May 2005 in a scheme said to have involved (unnamed) hedge funds. The lawsuit, filed...