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Rating:Legg is Cut by a Swiss Knife Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, September 04, 2008

Legg is Cut by a Swiss Knife

by: Erin Kello

Legg Mason was dealt a blow by Credit Suisse on Thursday morning. 24/7 Wall Street reports that Legg was downgraded by Credit Suisse from "neutral" to "underperform." The Swiss company said it made the downgrade because it believes that Batimore-based Legg Mason will miss earnings expectations for multiple quarters, see many redemptions and see client defections during end-of-year reviews. Legg's shares were down almost 10 percent in afternoon trading.  

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