Home » Archive

Articles tagged with: Auction rate securities

[3 Oct 2009 | No Comment | 2,949 views]
Colorado Division of Securities Charges Stifel Nicolaus with Fraudulent Sales of Auction Rate Securities

Tweet
On October 1, 2009, Colorado Securities Commissioner Fred Joseph announced that the Securities Division had filed a complaint against Stifel, Nicolaus & Company. According to the Division’s news release, the complaint alleges:
Stifel Nicolaus falsely represented auction rate securities as liquid, short-term investments to Colorado investors without discussing the risks. These representations gave investors a false sense of security that the investments would always be liquid when auction rate securities, in fact, faced significant, inherent liquidity risks.
A copy of the Notice …

Share
[23 Sep 2009 | No Comment | 1,961 views]
JP Morgan Returns More Than $28 Million to Missouri Auction Rate Securities Investors

Tweet
From Investment Fraud Blawg, Securities Fraud Blawg, and Stockbroker Fraud Blawg:
On September 21, 2009, Missouri Secretary of State Robin Carnahan announced that her office had finalized a consent order with JP Morgan Chase & Co. related to the firm’s marketing and sale of auction rate securities (ARS) to Missouri investors.
According to the press release, Missouri investors will receive more than $28 million. In addition, JP Morgan will pay $86,000 to the Missouri Investor Education and Protection Fund, which is used …

Share
[18 Aug 2009 | No Comment | 2,762 views]
New York Attorney General Sues Charles Schwab Over Auction Rate Securities (ARS) Sales

Tweet
From Investment Fraud Blawg, Securities Fraud Blawg, and Stockbroker Fraud Blawg:
Yesterday, August 17, 2009, the Attorney General of the state of New York announced that it had filed a lawsuit against Charles Schwab & Co. for its sales of auction rate securities. According to the press release, the Complaint charges Schwab with violations of the Martin Act for:
falsely representing auction rate securities as liquid, short-term investments without discussing the risks. These representations gave investors a false sense of security that …

Share