Credit Suisse To Buy Back $550M In ARS Deal

Law360, New York (September 16, 2008, 12:00 AM EDT) -- 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...
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