Cuomo Slams UBS With Auction Rate Securities Suit
In a suit filed on Thursday in the U.S. District Court for the Southern District of New York, New York Attorney General Andrew Cuomo accused UBS of marketing ARS to customers as safe, highly liquid investment vehicles.
“However, the representations were deceptive as the auction rate securities market came under tremendous strain, leaving the securities with mounting liquidity risks that eventually...
Already a subscriber? Click here to login