By Alabama Public Radio
Montgomery, AL – Wachovia will pay 25 million dollars to settle a case involving the state. Regulators say Wachovia's stock analysts issued biased research to help win investment-banking business. The agreement comes after a 28-month investigation. Regulators accused Wachovia of failing to supervise its employees concerning potential conflicts. Regulators also said the company sometimes offered research only on companies that were considered potential clients. Joseph Borg, the director of the Alabama Securities Commission, says the settlement ends the work of the task force that has been investigating research conflicts.