Friday, June 2, 2006

NASD Dismisses Quattrone Case

Frank Quattrone, the former Credit Suisse Group technology banker, who handled some of the hottest Internet deals, said the NASD dropped its case accusing him of improperly awarding shares in initial public offerings during the Internet boom.

The end of the NASD cases eliminates the remaining legal barrier for a return to the securities industry by Quattrone, who was paid $120 million in 2000 as the top banker promoting Internet stocks. According to Bloomberg, Quattrone will not re-enter the business.
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