Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Friday, October 26, 2012

Massachusetts Fines Citi $2 Million for Tech Analyst's Improper Disclosures

Massachusetts Securities Division fined Citigroup $2 million for failing to supervise tech analyst Mark Mahaney and a junior analyst who improperly disclosed confidential information about Facebook's IPO and Google's revenue estimates.  Citigroup fired Mahaney, who is a top-ranked internet analyst.  Citigroup admitted to the statement of facts and agreed to cease and desist from violating state securities laws.

WSJ, Citi Analyst Fired After Facebook Disclosure

http://lawprofessors.typepad.com/securities/2012/10/massachusetts-fines-citi-2-million-for-tech-analysts-improper-disclosures.html

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