TECHNOLOGY - Oct. 1, 1998

* AT&T; Corp. pension funds lost $150 million in 1996 at the hands of a rogue trader who used the company’s money to make risky bets on stock market movements and the technology industry, the Securities and Exchange Commission alleged. The agency disclosed the losses in a disciplinary action against RhumbLine Advisers, a Boston-based money management firm that also manages the retirement fund for Los Angeles city employees. The SEC sued the trader, Bing Sung, in federal court in Boston, alleging he engaged in unauthorized trades and concealed losses from AT&T.; Sung declined to comment. An AT&T; spokeswoman said the pension funds were able to absorb the loss. RhumbLine agreed to pay a $50,000 fine. RhumbLine Chief Executive John D. Nelson, while neither admitting nor denying guilt, agreed to pay $10,000 to settle allegations he failed to adequately supervise the investment officer.