Wholesaler Faces Battle for Survival
Traders Magazine, January 2002
M. H. Meyerson, a beleaguered wholesaler, received some more bad news in recent weeks from the National Association of Securities Dealers. In arbitration, the regulator found Meyerson liable for $5 million in damages for the unauthorized transfer of shares in Whitehall Enterprises, a Bulletin Board stock. (By contrast, top wholesaler Knight Securities, was ordered recently to pay $1.5 millon by NASD Regulation, though for decidedly different market violations.) The shares transferred by Meyerson had been left in its custody by the claimant, CVI Group.
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