Law360, New York (April 17, 2009) -- Ashland Inc., the maker of Valvoline motor oil, has sued Oppenheimer & Co., alleging the investment firm left the chemical company with $194 million of illiquid auction rate securities after lying about the nature of ARS and the stability of the ARS market.
In a complaint filed Thursday in the U.S. District Court for the Eastern District of Kentucky, the Covington, Ky.-based Ashland claims Oppenheimer violated federal and state securities laws by selling...
