California Securities Fraud Lawyer News Flash: AXA Investment Executive Settles Securities Fraud Charges

Thumbnail image for Thumbnail image for sec crest.bin.jpgBarr M. Rosenberg, co-founder and chairman of Orinda, California, investment firm AXA Rosenberg agreed to pay $2.5 million to settle securities fraud charges that involved hiding a computer error that caused $217 million in losses to his clients. As part of the settlement, Rosenberg will also be banned from the securities industry His company, AXA Rosenberg, which is owned by french company AXA SA, has also agreed to pay $242 million to settle civil charges.

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