Legal scholars consider it an important case and an issue that has resurfaced with current Web sites that make stock recommendations.
So it stuck with its stock recommendations even as share values climbed to nosebleed levels, then plummeted.
He steered away from stock recommendations or predications, however, though shareholders repeatedly encouraged a leak.
Independent research firms have often provided better stock recommendations than those of big Wall Street firms, according to some studies.
Earlier this month, Salomon Brothers also raised its stock recommendation for institutional clients to 80 percent from 50 percent.
For some years, however, the actual wisdom of the stock recommendations has invited sharp differences of opinion.
It is easy to see why the stock recommendations of Wall Street brokerage firms are suspect.
The financial analysts generate stock recommendations based on a combination of financial sustainability criteria.
Its stock recommendations will now include more disclosures about the firm's potential conflicts of interest, and about its overall rating system.
A buy occurs only when others in the room are willing to support a stock recommendation with hard cash.