Rochdale Said to Seek Capital Lifeline After Trading Error

Whoops! Rochdale Securities LLC, the 37-year- old brokerage that employs bank analyst Dick Bove, is seeking a capital injection after a trading error, said three people with knowledge of the firm’s situation, according to a Bloomberg report.... Execs at Rochdale are telling employees and potential investors that a trader at the firm made an unauthorized purchase of Apple Inc. (AAPL) shares, which has eroded the capital of closely held Rochdale, said one of the people, who declined to be identified because the overtures have been private.... The company, led by President Daniel J. Crowley, specializes in providing research and trading services to institutional investors, according to the Stamford, Connecticut- based company’s website and information compiled by the Financial Industry Regulatory Authority..........................................................................................................…… http://www.bloomberg.com/news/2012-11-02/rochdale-said-to-seek-capital-lifeline-after-trading-error.html