Auction Rate Securities
Whether you are an individual investor or part of a large corporation, our auction rate securities law firms are here to help you. To learn more about our experienced legal team and what we can do for you, contact one of our auction rate securities lawyers today at 800-220-9341. >>MORE
Auction Rate Securities
by the ARS Fraud Attorneys at Williams Kherkher
Contact our attorneys today at 800.220.9341 if a financial firm has misrepresented these investments.
Citigroup Investigated for Possible ARS Violations
Citigroup, the largest bank in America by assets, is facing several investigations into its business practices in connection with the sale of auction rate securities (ARS).
The Securities and Exchange Commission (SEC) recently launched a formal inquiry into Citigroup’s ARS sales, looking for possible violations of federal securities laws. Several state governments, including those of New York, Massachusetts, and Texas, have also subpeonaed information from Citigroup as part of their own investigations.
The $330 billion auction rate securities market ran into trouble in February 2008, when brokerage firms such as Merrill Lynch, Lehman Brothers, and UBS abruptly ceased to participate in auctions as bidders of last resort. Months later, many investors are still unable to retrieve their invested funds.
For more information, contact an auction rate securities attorney at 800-220-9341 today.