January 29, 2015 4:12 PM ET

Capital Markets

Company Overview of Lazard Capital Markets LLC

Company Overview

Lazard Capital Markets LLC provides corporate finance advisory services. It offers mergers and acquisitions, restructuring, and capital raising advisory services. The firm provides equity and fixed income sales and trading services. Additionally, it offers corporate underwriting services. Lazard Capital Markets LLC was founded in 2005 and is based in New York, New York. Lazard Capital Markets LLC operates as a subsidiary of LFCM Holdings LLC.

30 Rockefeller Plaza

New York, NY 10020

United States

Founded in 2005

Phone:

212-632-6050

Key Executives for Lazard Capital Markets LLC

Co-Chief Executive Officer and Head of Equities
Co-Chief Executive Officer
Managing Director
Managing Director of Capital Markets
Managing Director and Head of Convertible and Equity-Linked Securities Trading
Compensation as of Fiscal Year 2014.

Lazard Capital Markets LLC Key Developments

Shareholders Group Granted Class-Action Status in HCA Holdings Inc. Lawsuit

Plaintiffs who filed a securities fraud case against HCA Holdings Inc. were granted class-action status in a suit stemming from the company's $4.3 billion initial public offering in 2011. The list of defendants includes HCA's top executives, Chairman Richard Bracken and CEO Milton Johnson as well as several high-profile investment banks, including J.P. Morgan Securities, Lazard Capital Markets and Goldman Sachs & Co. A private equity group owned by affiliates of Bain Capital, Kohlberg Kravis Roberts Co. and Merrill Lynch's private equity arm is also named in the suit. The claim, brought by New England Teamsters & Trucking Industry Pension Fund as lead plaintiff, alleges HCA failed to disclose the company was experiencing a decline in Medicare and Medicaid revenues and had improperly accounted for previous reorganizations in a false and misleading initial public offering registration statement. On September 22, U.S. District Judge Kevin Sharp granted the class action status to HCA shareholders who owned common stock that was bought before the date of filing on Oct. 28, 2011. Based on the drop in the stock price from the IPO to the filing of the claim, the group has suffered more than $1 billion in damages, according to the complaint. The plaintiffs allege that HCA failed to disclose that Medicaid revenue growth had started to decline and was expected to continue to drop as a result of Medicaid cuts in Florida and Texas. Instead, HCA touted an almost 40% increase in Medicaid revenue from 2008 to 2010, which was not indicative of the company's future operating results, according to the claim. The suit also focuses on HCA's cardiology segment, which was losing physicians and was under investigation by the Department of Justice for its cardiac billing practices. An internal investigation revealed HCA was routinely performing unnecessary procedures, according to plaintiffs. The group alleges in the suit that HCA knew its revenue from cardiology services was declining in the quarters before the IPO and that those revenues were likely to continue to drop, according to Sharp's opinion granting class action. HCA argues that it disclosed Medicare revenue declines in quarterly calls before the IPO and that voluminous data concerning the Medicare and Medicaid services was available from federal data sources concerning the government programs. The plaintiffs also claim that HCA improperly accounted for two reorganization transactions as recapitalizations before the IPO, when the company was taken private in 2006 and was reorganized in 2010. The accounting error overstated earnings by $790 million.

Lazard Capital Markets, LLC Presents at Boston Biotech Conferences LLC's East/West CEO Conference, Jan-12-2014 01:00 PM

Lazard Capital Markets, LLC Presents at Boston Biotech Conferences LLC's East/West CEO Conference, Jan-12-2014 01:00 PM. Venue: Four Seasons Hotel, San Francisco, California, United States. Speakers: Stephen Sands.

Lazard Capital Markets, LLC Announces Executive Changes

Lazard Capital Markets, LLC announced that CEO William Buchanan Jr. left the firm following the completion of the company's strategic review. Scott McLaughlin and William Rosenberg were appointed co-CEOs. McLaughlin will still be the head of equities, and Rosenberg will continue to serve as CFO and COO of the company.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 26, 2014
Lazard Capital Markets LLC, London Operations
Merger/Acquisition
March 28, 2014
Lazard Capital Markets LLC., Securities Lending Business
 

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