$1,450,000,000 Mistake?

Posted on May 21, 2005 8:16 AM by Rob Williams

” MIAMI (Reuters) – The $1.45 billion judgement against Morgan Stanley for deceiving billionaire Ronald Perelman over a business deal has a lesson all companies should learn — keeping e-mails is now a must, experts say.

Banks and broker-dealers are obliged to retain e-mail and instant messaging documents for three years under U.S. Securities and Exchange Commission rules. But similar requirements will apply to all public companies from July 2006 under the Sarbanes-Oxley corporate reform measures.”

I never throw away any important e-mails.. but damn. 1.45 BILLION! Read more at Reuters.

Rob Williams

Rob founded Techgage in 2005 to be an 'Advocate of the consumer', focusing on fair reviews and keeping people apprised of news in the tech world. Catering to both enthusiasts and businesses alike; from desktop gaming to professional workstations, and all the supporting software.