The_Info_Web/20 - ORGANIZATIONS/PRIVATE/Allen and Company.md

aliases	category	tags	summary	location	created	updated	relations
Allen & Company Allen & Co.	Private Organization	Organization AllenAndCompany PROMIS INSLAW Hadron InvestmentBank	Wall Street bank of Charles Allen, where Hadron's Dominic Laiti and Simeon's Paul Wormeli sought capital in 1983 and which bought 7.8 percent of SCT for an unnamed client before SCT's 1986 INSLAW bid.	New York City	2026-09-22	2026-09-22	type with role start reverse fn employed_by Philip Scaturro executive vice president and managing director (2002) 1983-06-28 true 2

Allen and Company is the New York City investment bank of the Allen family. In September 1983 Dominic Laiti, chairman of Hadron, the company controlled by Earl Brian, and Paul Wormeli, vice president of its public-safety software subsidiary Simeon, went to New York to raise capital for Simeon and met at the bank's offices with the executive Mark Kesselman and "a young man whose last name was Allen." Kesselman later visited Simeon's Northern Virginia offices; he told the investigators of the special counsel Nicholas J. Bua that he had been asked by Charles Allen to assist Allen's nephew Nathaniel Kramer in the analysis, and that he left the firm in February 1984. Bill Hamilton of INSLAW held that the trip's purpose was the acquisition of INSLAW and its PROMIS software; Bua's investigators concluded the thesis was "incorrect."¹

Philip Scaturro was executive vice president and managing director of Allen and Company Incorporated in June 2002, when the school announced his election as chairman of the board of trustees of the New School for Social Research. The release describes the firm as "a New York investment bank with a staff of 175 in New York City" and "considered a leading expert in media, entertainment and telecommunications."² Individual contribution records filed with the Federal Election Commission list Allen & Company as his employer in entries dated June 28, 1983 through October 4, 2006, and again on November 5, 2012, when his occupation is given as retired.³ Schedule 13D filings by Allen and Company for iBEAM Broadcasting (July 20, 2001), Convera (January 7 and 24, 2002), Chaparral Resources (May 22, 2002) and Aros Corporation (October 21, 2002) list "Philip D. Scaturro" as "Executive Vice President, Managing Director, Director" of the firm, alongside Nancy B. Peretsman and Bill Bradley (managing director); the holding company Allen Holding Inc. list does not include him.⁴

About 1985 or 1986 the bank bought 7.8 percent of the stock of SCT on behalf of an unnamed third party. INSLAW cited the purchase, in its rebuttal to Bua's report, as evidence that Brian was secretly behind SCT's attempted hostile purchase of INSLAW in 1986. The Justice Department's 1994 review rejected the inference as unsupported and noted that on INSLAW's own theory Brian by then already controlled the enhanced PROMIS and was selling it abroad, leaving him no motive to buy the company. Neither the Bua report nor the House Committee on the Judiciary's report connects the bank to the financing of Brian's later Infotechnology, Financial News Network and United Press International ventures, which collapsed in 1991.¹⁵

Footnotes

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1. U.S. Department of Justice. Report of Special Counsel Nicholas J. Bua to the Attorney General of the United States Regarding the Allegations of Inslaw, Inc., March 1993, interviews of Dominic Laiti, Paul Wormeli and Mark Kesselman. https://archive.org/details/InslawPROMISBuaReport ↩︎

2. New School University, "Philip Scaturro Elected Chairman of New School University's Board of Trustees," press release, June 12, 2002 (Wayback Machine capture, 2010 snapshot). https://www.newschool.edu/pressroom/pressreleases/2002/061202_nsu_scaturro.html ↩︎

3. Federal Election Commission, Schedule A individual contributions, API query contributor_name "SCATURRO, PHILIP" (employer and occupation fields as filed). https://api.open.fec.gov/v1/schedules/schedule_a/?contributor_name=SCATURRO%2C%20PHILIP ↩︎

4. Allen and Company Incorporated, Schedule 13D officer and director exhibits, accessions 0000932799-01-500047, 0000932799-02-000005, 0000932799-02-000007, 0000932799-02-000059, 0000932799-02-000090. https://www.sec.gov/Archives/edgar/data/904807/000093279901500047/allenhodir.txt ↩︎

5. U.S. Department of Justice. Report of the United States Department of Justice on the Review of Special Counsel Nicholas J. Bua's Report on the Allegations of INSLAW, Inc., September 27, 1994 (bound with the Bua report in the archive.org item). ↩︎