Credit Suisse To Buy Back $550M In ARS Deal

By Melissa Lipman

Law360, New York (September 16, 2008, 12:00 AM ET) -- Credit Suisse Securities USA LLC has become the latest major bank to agree to buy back auction rate securities from individual investors as part of a settlement ending an investigation of the institution by a 12-state task force.

The agreement provides for Credit Suisse to repurchase all auction rate securities the firm sold to individuals, nonprofits and small and medium-sized businesses with accounts no large than $10 million since Feb. 14, the North American Securities Administrators Association announced Tuesday. The bank is to complete the buyback...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles