Jul 11, 2007 Piper Jaffray was fined $150,000 for effecting short sale orders in securities without borrowing or arranging to borrow that security.
Feb.23,2005 Piper Jaffray and Quick & Reilly were fined $845,000 for directed-brokerage violations.
Jan.20,2005 Piper Jaffray was fined $215,000 in lawsuit for illegally retaliated against Kathryn Lane, a broker from Milwaukee who accused her manager of discriminating against her.
Jan.12,2005 Piper Jaffray was fined $250,000 for deficiencies in the areas of books and records, communications with the public, regulatory reporting and supervision.
Jul.12,2004 Piper Jaffray was fined $2.4 million and censured by NASD for allegations related to the allocation of initial public offerings from 1999 to 2001.
Apr.28,2003 Five leading Wall Street investment banks improperly paid competitors to publish research on their investment banking clients without disclosing the arrangements. The five firms paid $1.4 billion legal settlement. (U.S. Bancorp Piper Jaffray: $32,500,000).
Dec.31,2002 Piper Jaffray paid $25 million and to change the way it does business to settle charges that it provided biased stock ratings.
Nov. 6,2002 Piper Jaffray was fined $100,000 for an alleged scheme to manipulate the stock price for La Crosse-based First Federal Capital Corp.
Dec 4, 2002 Piper Jaffray paid a $1.65 million for failing to keep and maintain records .
Jun.25,2002 Piper Jaffray fined $250,000 for threatening to drop research coverage of a biotech firm that was considering taking its investment banking business to another firm.
May 14,2002 Prudential Securities, Ameritrade and U.S. Bancorp Piper Jaffray Have Worst Record of Investor Abuses over Last 5 Years According to Weiss Ratings.
Mar. 7,1996 Piper Jaffray Is Fined Over Data on Fund.
Please add details on (1) Worth Brutgen's fraud and loss of billions in derivatives debacle, (2) fraudulent research convictions (3) Miscellaneous SEC investigations subsequent santions. Piper can best be described as the "gang that cannot shoot straight," lies a lot, cheats a lot, and is not smart enough to actually make anyone any money.... a crime in-and-of itself!
Piper has never been convicted of fraudulent research. Agreeing to a fine while neither admitting nor denying guilt is not the same as a conviction. If there is one thing to know about Eliot Spitzer it is that he never took things to court because he could get away with slander in the press. When things went to court he lost (Grasso, the Financial Advisor he was trying to put in jail, etc).
Old news, but still good:
Piper Jaffray Fraud Claim
Regulators and investors are hoping the $1.4 billion Wall Street settlement that includes the largest securities firms in the U.S. like Piper Jaffray will result in reform and restored investor confidence. For Piper Jaffray investors, first filing Piper Jaffray stock Fraud Claims to recover losses has occurred. There has been evidence of fraudulent practices leading upset and disappointed investors to contact Piper Jaffray stock Fraud Claim attorneys.
Piper Jaffray has said the firm strongly supports the proposed reforms following what has been considered one of the most embarrassing events in Wall Street history. Investors are not quite that optimistic, though, and are hoping the firm will be forced to repay losses through Piper Jaffray stock Fraud Claims. The SEC charged that Piper Jaffray analysts helped pitch deals at meetings with potential underwriting clients. With interests motivated purely for the firm�s own financial advancement, investors are continuing to seek reprisal for losses that have been significant