American Express Subpoenaed
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NEW YORK — American Express Co. said today that it was subpoenaed by the Securities and Exchange Commission regarding transactions with Jefferies & Co. of Los Angeles, whose chairman recently settled government charges of manipulating stock prices.
American Express said it was subpoenaed Thursday for documents stemming from transactions in securities of American Express and Fireman’s Fund Corp., in which American Express owns a major stake. Also subpoenaed was American Express’ Shearson Lehman Bros. Inc. investment unit, which co-managed a public offering last May of 9 million units of Fireman’s Fund common stock and warrants.
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