Piper Jaffray Fined
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Wednesday, June 26, 2002

Piper Jaffray Fined

The National Association of Securities Dealers, a regulatory arm of the Nasdaq, has fined U.S. Bancorp Piper Jaffray $300,000. Also fined was one of its managing directors Scott Beardsley. The case began when the firm allegedly threatened to cease analyst coverage of a biotech company when that company decided not to hire the firm as its investment banker, according to an article in The Washington Post. The agreement settles charges against the firm and the manager.

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