Gen. Clark in legal squabble | Arkansas Blog

Wednesday, October 11, 2006

Gen. Clark in legal squabble

Posted By on Wed, Oct 11, 2006 at 8:57 AM

NY Times blog reports that Wesley Clark is in a legal tangle with a former employee.

The Rodman & Renshaw Capital Group, a brokerage firm led by the former presidential candidate Wesley K. Clark, has sued a former analyst, accusing him of creating Web sites that use the firm’s trademarks and executives’ names to settle scores with his old employer.

Matthew Murray, the analyst, has said Rodman fired him in March after he resisted pressure not to downgrade a stock and complained to authorities. The suit contends that Mr. Murray set up Web sites resembling Rodman’s to disseminate defamatory statements about the firm.

The Senate Finance Committee, which has jurisdiction over whistle-blower cases, has been looking into the circumstances under which Mr. Murray was dismissed from the firm. Under the terms of a settlement reached in 2002 between Wall Street companies and regulators, brokerage firms are barred from punishing their analysts for issuing negative reports on companies they follow.

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