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Violation Tracker Individual Record

Company: Hornblower & Weeks, Inc.
Penalty: $100,000
Year: 2002
Date: May 7, 2002
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: NASD Regulation, Inc. announced that as part of its ongoing focus on research analyst activities, it reached a settlement with Hornblower & Weeks, Inc. of New York, NY, and its President. NASD Regulation found that the firm issued a research report recommending the common stock of MyTurn.com as a "strong buy" when, in fact, the report contained baseless projections, misleading and exaggerated statements and omitted important facts, in violation of NASD antifraud and advertising rules, as well as the antifraud provisions of the federal securities laws.
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
Source of Data: (click here)
Notes: FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.