Wells Fargo & Co. will buy back an estimated $700 million in troubled auction-rate securities from California investors under terms of a settlement announced by Attorney General Jerry Brown on Wednesday. In a separate deal reached with the North American Securities Administrators Association, the San Francisco-based bank has agreed to repurchase nonliquid auction-rate securities totaling approximately $700 million from non-California residents.
November 19, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Wells Fargo & Co. will buy back an estimated $700 million in troubled auction-rate securities from California investors under terms of a settlement announced by Attorney General Jerry Brown on Wednesday.
The banking giant will also pay the AG’s office $600,000 to cover investigation expenses and monitoring of the settlement’s terms. In exchange, Brown will drop the civil lawsuit he filed against Wells Fargo in San Francisco Superior Court in April.
Presented by BigVoodoo
Law firms & in-house legal departments with a presence in the middle east celebrate outstanding achievement within the profession.
The premier educational and networking event for employee benefits brokers and agents.
The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania and Delaware.
Atlanta s John Marshall Law School is seeking to hire one or more full-time, visiting Legal WritingInstructors to teach Legal Research, Anal...
Shipman is seeking an associate to join our Labor & Employment practice in our Hartford, New Haven, or Stamford office. Candidates shou...
Evergreen Trading is a media investment firm headquartered in NYC. We help brands achieve their goals by leveraging their unwanted assets to...
MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS
