Mideast Diaries

contract and therefore should have been civilly liable; Milken, however, did nothing that warrants an indictment.

Similarly, Milken is charged with manipulating prices to drive down the price of the stock of COMB Companies, which had retained Drexel to manage a convertible offering. If the allegations aré true, then in this case Milken caused Drexel to breach its fiduciary responsibility to a client. But COMB should then have sued Milken and Drexel, rather than the U.S. Attorney filing a criminal charge.

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contract and therefore should have been civilly liable; Milken, however, did nothing that warrants an indictment.

Similarly, Milken is charged with manipulating prices to drive down the price of the stock of COMB Companies, which had retained Drexel to manage a convertible offering. If the allegations aré true, then in this case Milken caused Drexel to breach its fiduciary responsibility to a client. But COMB should then have sued Milken and Drexel, rather than the U.S. Attorney filing a criminal charge.