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Citi, Wachovia To Pay $878M To Settle ARS Probe

By Christine Caulfield (April 15, 2009, 12:00 AM EDT) -- The brokerage units of Citigroup Inc. and Wachovia Corp. have reached global settlements to put an end to an investigation of claims that the firms concealed the liquidity risks of investing in the doomed auction rate securities market....

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