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September 8, 2010

Whistleblower Ordered to Pay Wall St. Giant $10.7M
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A former biotech analyst who blew the whistle on deceptive tactics at
the Wall Street firm Rodman & Renshaw has been ordered to pay the
company millions of dollars in damages. Matthew Murray was fired in 2006
after asking his superiors to downgrade a favorable rating of the
biotech giant Halozyme Therapeutics, a big Rodman client. Rodman filed a
complaint against Murray after he attempted to pass on his internal
correspondence with company officials to Congress. Last month, the
Financial Industry Regulatory Authority sided with Rodman, awarding the
company $10.7 million, a figure that could reach $15 million with
interest.



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