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Legal News

: Lawyers and Settlements

Lawsuit Threatened Against Financial Firm

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Albany, NY: New York Attorney General Andrew Cuomo has threatened to file a lawsuit against Charles Schwab Corp. in an attempt to force the financial firm to pay off clients who were stuck with auction rate securities (ARS) after the ARS market failed, according to an article at latimes.com (July 20, 2009). For people who have filed stockbroker arbitration claims following the collapse of the ARS market, the move might be seen as further proof that they were misled into purchasing the securities. Those investors say they were victims of stock fraud and were given false information regarding the securities.

Full post as published by Lawyers and Settlements on July 23, 2009 (boomark / email).

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