Founded in 1904, EF Hutton had grown into one of the largest brokerages by the 1980s, with 19,000 employees. In 1985, an overdraft scandal led the firm to plead guilty to 2,000 counts of mail and wire fraud. Already faced with massive legal bills, the 1987 stock-market crash led the firm to agree to a sale to Shearson Lehman American Express for about $1 billion. A group of former E.F. Hutton alumni resurrected the brokerage in April 2012.
Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio