Massachusetts Files Complaint Against CSFB
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Massachusetts regulators filed a complaint alleging that Credit Suisse First Boston intentionally misled investors by hyping the stocks of companies for which the firm did investment banking work.
In an administrative complaint, the Massachusetts secretary of state charged that bankers at CSFB, a unit of Credit Suisse Group, pressured technology stock analysts to issue upbeat reports on CSFB clients and then pointed to that bullishness when trying to win business from other companies.
The charges revolve around a series of e-mails written by CSFB analysts, some of whom appear to bemoan the pressure they felt to talk up stocks of CSFB clients.
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