Credit Suisse To Buy Back $276M In ARS From NJ Investors

Law360, New York (August 3, 2011, 1:00 PM EDT) -- Credit Suisse Securities (USA) LLC on Wednesday reached a deal with New Jersey securities regulators under which it will buy back $275.6 million in auction rate securities from consumers and pay a $1.1 million fine.

The deal is the latest resolution in a multistate investigation into the Swiss firm's role in the now-defunct auction rate securities market.

The settlement — outlined in a consent order signed by Abbe R. Tiger, chief of New Jersey's Bureau of Securities — is part of an agreement between Credit Suisse...
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