In an open letter to Facebook CEO Mark Zuckerberg, New York Attorney General Andrew Cuomo said that within days of setting up fake profiles for 12- to 14-year-old users, investigators “received numerous sexual solicitations from adults sent to several of the underage profiles.” Worse, when the investigators complained to the company, it often responded lethargically or failed to act at all. Which belies Facebook’s portrayal of itself as a safer alternative to MySpace.

“The OAG [Office of the Attorney General] is concerned that in Facebook’s efforts to grow, the company may be giving a lower priority to the safety and welfare of its users, and in particular, underage users,” Cuomo wrote. “To be clear, within the constraints of the law, Facebook has the right to operate any type of Web site it deems fit. However, it does not have the right to represent that its site is safe and that it promptly responds to complaints when such statements are not accurate.”

And so the New York AG’s office has subpoenaed information about Facebook’s safety and security measures. Which was apparently enough to rouse the company from its $15 billion valuation reveries.

“We take the concerns of the Office of the New York Attorney General very seriously,” said Facebook spokeswoman Brandee Barker. “As our service continues to grow, so does our responsibility to our users to empower them with the tools necessary to communicate efficiently and safely. We strive to uphold our high standards for privacy on Facebook and are constantly working on processes and technologies that will further improve safety and user control on the site. We are committed to working closely with all the state attorneys general to maintain a trusted environment for all Facebook users and to demonstrate the efficacy of these efforts.”

And that puts Jobs in an uncomfortable position. Because while Apple has cleared him of any wrongdoing, former Apple CFO Fred “It was you, Fredo” Anderson did try to implicate him in the scandal (Post continues after video … ).

Though Apple dismissed Anderson’s accusations as the ravings of a madman, they’re still not the sort of thing you want hanging over you when you’re testifying before an SEC panel. Because though the agency has said it will take no action against Apple, it hasn’t ruled out continued scrutiny of Jobs.

If Quattrone’s lengthy legal ordeal truly was an opera, then it makes Richard Wagner’s interminable Ring Cycle look short by comparison. Accused of ordering the destruction of documents while his firm was under subpoena, Quattrone was charged with witness tampering and obstruction of justice in April 2003. His first trial ended in a hung jury in October 2003. He was convicted in a retrial in May 2004 and sentenced to 18 months in prison. But that verdict was overturned last year. Quattrone managed to avoid a third trial by reaching a deferred-prosecution agreement with prosecutors. Now, having met its terms, his four-year battle with the federal justice system is officially over.

So what’s next for the investment legend? Back to business, most likely. Said Bill Burnham, a venture capitalist who once worked with Quattrone: “Investment bankers want him to start a private equity firm and private equity investors want him to start an investment bank because neither group wants to compete head-on with Frank. Who knows, maybe he will disappoint them all and do both.”