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.
UBS Settles Massachusetts Suit
On Wednesday, Swiss bank UBS agreed to settle with Massachusetts attorney general Martha Coakley in a case filed against the bank for allegedly fraudulent business practices. UBS has agreed to pay $1 million to the state government for the expenses of the lawsuit and the losses suffered by local governments. They will also buy back $3.4 million worth of ARS sold to 17 towns and cities around the state. The bank has not formally admitted any wrongdoing.
If you have lost money to a dishonest broker or bank, contact auction rate securities lawyers Williams Kherkher at 800.220.9341.
Texas Considers Suspending UBS Operations over ARS Crisis
State officials are considering a partial suspension of UBS’ securities operations in Texas to pressure the investment banking into providing financial relief for the countless investors affected by the auction rate securities (ARS) crisis.
UBS, which is also under investigation from several other state governments, has been accused by many investors of engaging in fraudulent tactics and misrepresenting the liquidity of ARS as part of a strategy to unload problematic securities onto unsuspecting investors.
A statement from UBS said that the bank maintains its innocence and intends to fight the Texas proposal. A hearing is scheduled to be held on September 22.
Have your finances taken a hit due to the loss of liquidity in the auction rate securities market? You may have a case against the securities dealers who fraudulently sold you ARS. Call 800-220-9341 today to speak with an auction rate securities lawyer about your case.