Posts belonging to Category Auction Rate Securities
Posted by Page PerryonJune 3, 2011
A federal appellate court has denied Credit Suisse’s attempt to overturn a $431 million arbitration award in favor of STMicroelectronics NV in a case involving auction rate securities, according to Ian Thoms’ Law360 article entitled “2nd Circ. Downs Credit Suisse Appeal Of $431M Award.”
Categories: Asset Backed Securities, Auction Rate Securities, Brokerage Firms, CDOs, Common Securities Broker Abuses, Credit Suisse, Derivatives, Investigations, Investment Advisers, Investor Alerts, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonMay 31, 2011
A Virginia bankruptcy court is considering a proposed $14.3 million settlement to be paid by SunTrust Banks Inc. over its sale of auction rate securities to LandAmerica 1031 Exchange Service Inc. (“LES”), according to Hilary Russ’s Law360 article entitled “$14.3M Deal Ends LandAmerica, SunTrust ARS Dispute.”
Categories: Auction Rate Securities, Brokerage Firms, Common Securities Broker Abuses, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, SunTrust
Posted by Page PerryonMay 12, 2011
Raymond James Financial claims that it would face a loss of $25 million to $50 million if it is forced to immediately repurchase auction-rate securities that it sold to clients, according to an InvestmentNews article by Bruce Kelly entitled “ARS mess could cost Raymond James up to $50M.” That would cut into the firm’s total […]
Categories: Auction Rate Securities, Brokerage Firms, Common Securities Broker Abuses, Investment Advisers, Investor Alerts, Raymond James, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonMay 7, 2011
Wells Fargo Securities LLC is the subject of an investor class action lawsuit alleging that it violated intended third-party beneficiaries of an auction rate securities settlement with the SEC by refusing to buy back auction rate securities from trusts that purchased and held those securities as trust property, according to a Law360 article by Richard […]
Categories: Auction Rate Securities, Brokerage Firms, Common Securities Broker Abuses, Investment Advisers, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Wachovia, Wells Fargo
Posted by Page PerryonMarch 10, 2011
A federal judge has ruled that an institutional investor that lost over $200 million in auction rate securities sold by brokerage firm Deutsche Bank Securities can also bring a claim against that firm’s parent company, Deutsche Bank AG, according to a recent BNA article entitled “Deutsch Bank Loses Bid to Dismiss Control Person Claims by […]
Categories: Auction Rate Securities, Brokerage Firms, Common Securities Broker Abuses, Deutsche Bank, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonFebruary 16, 2011
If you are an investor who lost money in the financial crisis, your stockbroker or investment advisor may owe you money. There are a variety of legal claims that can be brought for investment malpractice, ranging from fraud and misrepresentation to making unsuitable investment recommendations. But there are also legal deadlines for bringing such claims, […]
Categories: Asset Backed Securities, Auction Rate Securities, Bank of America, Bank of New York Mellon, Barclays, Brokerage Firms, CDOs, Citigroup Hedge Funds, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Default Swaps, Credit Suisse, Derivatives, Deutsche Bank, Goldman Sachs, Hedge Funds, Investment Advisers, Investment Malpractice, Investor Alerts, J. P. Morgan Chase, Legg Mason, LPL Financial, Misrepresentation/Omission, Morgan Keegan, Morgan Stanley, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Oppenheimer, Preferred Stocks, Raymond James, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, SunTrust, UBS, Unsuitable Recommendations, Wachovia, Wells Fargo
Posted by Page PerryonDecember 18, 2010
While many investors who lost money when the auction rate securities market collapsed in 2008 have now been made whole by regulatory settlements and redemptions, others have not been as fortunate and are still holding on to illiquid securities. Because regulatory settlements focused on the worst offenders in the industry, not all firms that sold […]
Categories: Auction Rate Securities, Bank of America, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, J. P. Morgan Chase, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, SunTrust, UBS
Posted by Page PerryonNovember 6, 2010
$130 billion of retail and institutional investor money is still being held in auction rate securities over two years after the $330 billion auction rate market failed and froze, according to Daisy Maxey in her Wall Street Journal article, “Still Frozen After All These Years.” But just as the Paul Simon song modulates from gloom […]
Categories: Auction Rate Securities, Bank of America, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, J. P. Morgan Chase, Merrill Lynch, Morgan Stanley, Oppenheimer, Raymond James, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, SunTrust, UBS, Wachovia, Wells Fargo
Posted by Page PerryonSeptember 24, 2010
Just last month (August 2010), a panel of arbitrators acting under the sponsorship of the Financial Industry Regulatory Authority (FINRA) ordered UBS Financial Services to pay $80.8 million as consequential damages to a corporate investor in Student Loan Auction Rate Securities ? an amount equal to more than ten times the amount of the investment, […]
Categories: Auction Rate Securities, Brokerage Firms, Securities, UBS
Posted by Page PerryonAugust 28, 2010
A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Raymond James & Associates, Inc. and one of its registered representatives to pay $925,000 to a Texas couple who purchased $1.4 million of municipal auction rate securities issued by Jefferson County, Alabama, according to August 26th articles in InvestmentNews by Bruce Kelly (“Raymond James pays […]
Categories: Auction Rate Securities, Brokerage Firms, Charles Schwab, Common Securities Broker Abuses, Oppenheimer, Raymond James, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation