After a rather courageous allegation this month by
Spitzer requested that the court order Seligman to provide testimony in regards to the alleged improprieties and turn in documentation of its illegal trading practices.
Although the firm earlier admitted to four a market-timing arrangements, for which the firm paid a $2 million fine and agreed to reduce fees by $4 million, Spitzer says the firm had at least a dozen arrangements that cost investors no less than $80 million.
"The evidence set forth in today's filing shows an extensive market-timing program that appears to have been authorized by top executives," including the firm's president, Spitzer said in a statement.
