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Mr. Coffee Co-Founder Claims Fraud
Newsday ^ | March 1, 2002 | JOE MILICIA -- Associated Press Writer

Posted on 03/01/2002 7:42:41 AM PST by Willie Green

Edited on 09/03/2002 4:50:01 AM PDT by Jim Robinson. [history]

CLEVELAND -- The co-founder of the company that makes Mr. Coffee filed a billion-dollar lawsuit Thursday against two firms that employed a broker suspected of cheating clients out of $277 million.

Samuel Glazer's lawsuit in U.S. District Court accuses Lehman Brothers Inc. and SG Cowen Corp. of allowing Frank Gruttadauria to conduct the 15-year scam "through greed, carelessness or both."

The lawsuit asks for $500 million in punitive damages against each firm and $40 million in lost money. It accuses the firms of fraud, breach of fiduciary duty, negligence, breach of contract and civil conspiracy.


(Excerpt) Read more at newsday.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: wallstreetfraud

1 posted on 03/01/2002 7:42:41 AM PST by Willie Green (Go Pat Go!!!)
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To: Wall Street Fraud
time to start a new bump list!!!
2 posted on 03/01/2002 7:44:30 AM PST by Willie Green
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To: Willie Green
Am I the first one to say it...Where have you gone, Joe DiMaggio?
3 posted on 03/01/2002 7:45:00 AM PST by denydenydeny
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To: denydenydeny
Yep.

I was going to post that same comment along with the article, but then I forgot when I got involved creating the new bump-list.

I guess Great Minds Think Alike. (to use yet another cliche.)

4 posted on 03/01/2002 7:55:09 AM PST by Willie Green
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To: denydenydeny
Curses! Foiled again!!
5 posted on 03/01/2002 7:56:52 AM PST by Constitution Day
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