Facing growing competition, Instinet scrambles for position

Article Abstract:

Instinet Corporation, a subsidiary of Reuters Group PLC, has announced the purchase by their consortium of investors of 54.4% investment of Tradepoint Financial Networks P.L.C. a United Kingdom electronic stock exchange. In an attempt to stay on top of the Online securities trading industry, Instinet gathered a consortium of investors including American Century Investors Inc., Goldman, Sachs and Co, E* Trde Group, J.P. Morgan and Morgan Stanley Dean Witter to buy stake in the company. Despite having superior technical know-how Tradepoint has yet to turn a profit, but with this infusion of cash the company should be posed float for a while longer

United Kingdom, On-Line Information Services, Videotex & Teletext, Telegraph & other communications, Receipt of funds, Online services, Internet services, Company investment, Investments, Electronic trading (Securities), Online securities trading, TradePoint Financial Networks PLC, Instinet Group Inc.

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Lawyers are awarded $144 million from class-action stock suit

Article Abstract:

A team of class-action attorneys that just won a record-breaking $1 billion settlement for investors asked for 17.5 percent of the settlement as their fee. They were awarded, instead, 14 percent or $144 million. The case started in May 1994 accusing 37 brokerage firms of price fixing the stocks they traded between May 1989 and July 1996.

Legal issues & crime, Legal services, Attorneys, Offices of Lawyers, Class actions (Civil procedure), Cases, Class action lawsuits, Prices and rates, Lawyers, Law, Stock-exchange, Stock exchanges, Abstract

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