Violation Tracker Individual Record

Company: 
Forstmann Little & Co.
Penalty: 
$16,200,000
Year: 
2004
Date: 
September 20, 2004
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

Frostman Little & Co. agreed to pay $15 million and return $1.2 million in settlement of allegations it breached its contract with the state pension fund by making investments that were not consistent with its contractual obligations, leading to the loss of $125 million.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Connecticut Attorney General
Civil or Criminal Case: 
civil
Facility State: 
Connecticut
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.