41. Klein says that while the firm will sell IPO shares to any customer, it is careful not to let customers get in over their heads. 42. Larry Friend, the chairman of L.H. Friend, said his firm had sold the security only to institutional investors. 43. Last month, the firm sold its remaining stake in Gillette. 44. Liquidity will return to the market, real estate executives say, as Wall Street firms sell their portfolios of existing loans and start looking for new business. 45. Later, the firms sold their stake, which caused the stock price to drop. 46. Most private companies go public by finding a securities firm to sell shares directly to investors, a practice that raises capital for operations or other purposes. 47. Orange County filed the lawsuit in January, alleging the firm sold the county illegal securities and improperly earned hundreds of millions of dollars in fees by advising Citron. 48. PaineWebber Inc. was sued by an investor who alleged that the firm improperly sold life-insurance policies as retirement and savings plans. 49. Securities regulators are also investigating whether Wall Street firms sold new stocks to big investors who promised to buy more shares after the stocks started trading. 50. Some brokerage firms sell insurance and offer mortgages as well as mutual funds. |