Word: lynched
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Dates: during 1980-1989
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...attacked program trading in the past: "If the numbers stay like this, it may go away as an issue." Should it not, critics will know whom to blame. The report showed that more than half of all program trading was carried out by just three firms: Morgan Stanley, Merrill Lynch and Bear Stearns...
Since the 62-year-old broadcasting editor had violated the magazine's ethical code by not disclosing all his stock holdings, he was fired. The dismissal came one day after the Government filed criminal charges against William Dillon, a former Merrill Lynch broker, for trading stocks based on information in advance copies of Business Week that he allegedly bought at a printing plant for $20 to $30 each...
After inspecting the documents in his chambers, Lynch ordered the government to surrender the requested papers. But Lynch stayed his own order and referred the constitutional questions to the appellate courts...
...probe of insider trading based on purloined early copies of Business Week magazine expanded to include at least 16 suspects on both coasts. In the most fully investigated case so far, former Merrill Lynch Broker William Dillon, 33, is believed to have paid employees at a magazine printing plant in Connecticut to give him copies of Business Week a full day before the issue was available to the general public so he could buy stocks recommended in the "Inside Wall Street" column before the price went up. Dillon typically paid $30 an issue, but allegedly reaped profits...
...Merrill Lynch fired Dillon late last month after it discovered his suspicious trading pattern. Prudential-Bache, detecting an apparently separate but very similar scam, late last month fired a broker in its Anaheim, Calif., office whom it has accused of getting early copies of Business Week from a printing plant in Torrance, Calif. Last week the company that operates both plants, R.R. Donnelley & Sons (which also prints some copies of TIME), fired three workers; a fourth resigned...