Ex-Merrill Lynch Analyst Fined for Promoting Tyco

Deseret News (Salt Lake City) › May 26, 2004

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Summary

NEW YORK -- A former Merrill Lynch analyst who regulators said became a "cheerleader" for Tyco International and issued misleading research will pay $225,000 and accept a one-year suspension to settle allegations against him.

The National Association of Securities Dealers said Tuesday that Phua Young's coverage of Tyco and Honeywell International Inc. was biased, violated industry rules and hurt individual investors.

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Extract

Ex-Merrill Lynch Analyst Fined for Promoting Tyco

"The basic problem is that his research reports were quite positiv...

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