Brokerages Reluctant to Buy Back Auction Rate Securities
They Should Not Be Expected To Buy Back the Now-worthless Investments From Their Customers Some brokers who sold auction rate securities say they should not be expected to buy back the now-worthless investments from their customers. Instead, the brokerages are arguing that the parties responsible for the auction rate mess - the … [Read more...] about Brokerages Reluctant to Buy Back Auction Rate Securities
Citigroup Faces Threat of Auction Rate Securities Lawsuit
Citigroup Auction Rate Securities. The Next Target of New York State Attorney General Citigroup's Auction Rate Securities business will likely be the next target of New York State Attorney General Andrew Cuomo. Cuomo has already sued investment bank UBS for its handling of auction rate securities, and last week threatened … [Read more...] about Citigroup Faces Threat of Auction Rate Securities Lawsuit
UBS Sued Over Auction Rate Securities
UBS Pushing Investors Into Auction Rate Securities. As expected, the New York State Attorney General has filed a lawsuit against Swiss banking giant UBS for allegedly pushing everyday investors into buying troubled auction rate securities. Just days later, UBS announced that it was suspending David Shulman, its U.S. fixed income unit … [Read more...] about UBS Sued Over Auction Rate Securities
