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Some of the highest-profile settlements arising from corporate investigations initiated by Gov. Eliot Spitzer when he was Attorney General:
-- December 2006: Entercom Communications Corp., one of the nation's largest broadcasters, agreed to a multimillion-dollar payment to end Spitzer's investigation of gifts by record companies in exchange for air play.
-- December 2006: MetLife Inc., the largest group life insurer in the nation, agreed to pay a multimillion-dollar settlement and change some of its business practices to end an investigation of payments made to brokers to steer clients its way. Spitzer's probe of the industry began in 2004 and more than 20 insurance companies agreed to pay more than $3 billion.
-- October 2006: Former New York Stock Exchange chief Richard Grasso was ordered to repay part of his 2003 compensation package, which Spitzer claimed was unreasonable under laws governing nonprofit organizations.
-- December 2003: In two separate agreements, Alliance Capital Management agreed to pay a multimillion-dollar penalty to settle allegations of improper fund trading, the most costly settlement to date.
-- December 2002: In one of the largest settlements ever levied by securities regulators, 10 Wall Street firms agreed to a multimillion-dollar penalty to resolve charges they gave biased stock ratings. The probe, which began in June 2001, turned up e-mail showing star Merrill Lynch & Co. analyst Henry Blodget describing InfoSpace Inc., one of the firm's highest-rated stocks, as ``a piece of junk.'' |