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Grubman Faces Nasdaq Nemesis

Traders Magazine, December 2002

Staff Reports

A huge class action lawsuit has been filed against Salomon Smith Barney and Jack Grubman. This lawsuit, filed by the high-powered law firm Lovell Stewart Halebian, charges that Salomon and others caused the market price of XO Communications to be artifically inflated. The Halebian firm, which has selected senior partner Christopher Lovell to argue the case in U.S. District Court in Manhattan, represents clients with at least $130 million in losses in a period between 1997 and 2001, according to the complaint.

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