WASHINGTON (Reuters) - The North American Securities Administrators Association says a brokerage unit of Wells Fargo & Co agreed to a $1.3 billion settlement involving auction rate securities (ARS). The settlement requires Wells Fargo to offer to rebuy... Full Article at ABC News
Related News from NPR and Public Broadcast Partners
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The North American Securities Administrators Association says Wells Fargo has agreed to repurchase about $1.3 billion in soured auction-rate securities from clients. Wells Fargo & Co. is one of more than a dozen financial firms that have agreed with Full Article at Southern California Public Radio
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The North American Securities Administrators Association says Wells Fargo has agreed to repurchase about $1.3 billion in soured auction-rate securities from clients. Wells Fargo & Co. is one of more than a dozen financial firms that have agreed with Full Article at NPR
Related News from Other News Sources
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Wells Fargo & Company said on Wednesday that it had agreed to buy back $1.4 billion in auction-rate securities it sold to investors before the market for those securities dried up last year. The decision settles a lawsuit brought against the firm by Full Article at The New York Times
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NEW YORK (Reuters) - Wells Fargo Investments LLC has agreed to repay about $1.3 billion to clients whose funds were frozen in the auction-rate securities market in the latest of a series of settlements with state securities regulators. The company, a Full Article at ABC News
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San Francisco-based Wells Fargo agreed to buy back all auction rate securities it sold through its brokerage unit before Feb. 13, 2008, the association said in a statement. The bank also will pay a $1.9 million fine and reimburse investors who sold Full Article at Bloomberg.com
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WASHINGTON, D.C. November 18, 2009 - The North American Securities Administrators Association (NASAA) today announced that a settlement in principle has been reached between Wells Fargo Investments LLC and state securities regulators to return Full Article at Clusterstock
Related Quotes
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Wells Fargo convinced thousands of investors to purchase auction-rate securities with promises of robust returns and liquidity, but when the market collapsed, investors were left out in the cold ... Based on misleading advice, investors bought these risky securities. Now, retail investors and small busi...
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We will continue to seek much needed relief for investors who have suffered from the collapse of the ARS markets
SOURCE: MarketWatch -
Wells Fargo convinced thousands of investors to purchase auction-rate securities with promises of robust returns and liquidity, but when the market collapsed, investors were left out in the cold
SOURCE: ABC News -
Getting $61 billion freed up for investors is nothing less than awesome
SOURCE: Bloomberg.com
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