The bank is already being sued by a number of past and present WorldComm employees who are claiming that it encouraged them to exercise their options and retain their stock in the company. The group of employees claim that they have lost around $5-6m dollars as a result of following the bank's suggestions.
The New York Stock Exchange would neither confirm or deny that an investigation is currently underway.
Salomon Investigated By NYSE
The New York Stock Exchange is believed to be investigating investment bank Salomon Smith Barney in respect of accounts it handled for WorldComm Group employees.
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