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A number of major brokerage houses are facing proposed class actions. They're accused of sweeping uninvested brokerage account money into low-interest accounts at affiliated banks and using the funds to earn money for the companies. The so-called "sweep suits" have been filed in federal court in New York and Colorado.
October 29, 2007 at 12:00 AM
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The original version of this story was published on National Law Journal
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