Cuomo Inks ARS Buyback Deals With 3 More Banks

Law360, New York (August 21, 2008, 12:00 AM EDT) -- Merrill Lynch & Co. Inc., Deutsche Bank AG and Goldman Sachs Group Inc. have become the latest Wall Street firms to sign multibillion-dollar settlements with New York Attorney General Andrew Cuomo over the ill-fated auction rate securities market.

The deals were announced in a Thursday afternoon conference call led by Cuomo, who said the three banks would pay civil penalties totaling $170.5 million and repurchase billions of dollars in auction rate securities at par value, according to an AP report.

The settlement was reached with Cuomo...
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