Whistleblower
Advocates
Award Winning Attorneys
This settlement restored approximately $7 billion in liquidity to Defendant’s customers who invested in ARS (auction rate securities) before the market froze in February 2008. Defendant allegedly misled its customers with claims that ARS were safe, highly liquid investments comparable to money markets, while knowing of (but not disclosing) an increasing need and diminishing ability to support the market by preventing failed auctions through inventory purchases.