auction rate

In a Nov. 24 story about Credit Suisse Securities (USA) LLC buying back auction rate securities from investors, The Associated Press, relying on information from the Colorado Department of Regulatory Agencies, reported erroneously how much the company was buying back.

It has agreed to buy back up to $17.2 million from Colorado individual investors, charities, and small- and medium-sized businesses, not $79.4 million.

The story also misstated how much auction rate securities the company has bought back from retail investors or agreed to resolve as part of a multistate agreement.

Wells Fargo Investments LLC will repay about $1.3 billion to clients whose funds were frozen in the auction-rate securities market in the latest of a series of settlements with state securities regulators, an industry association said on Wednesday.

New York’s attorney general filed a lawsuit against the brokerage unit of Charles Schwab, claiming that the firm misled customers about the safety of auction-rate securities.

Andrew Cuomo filed a lawsuit against the brokerage unit of Charles Schwab, claiming that the firm misled customers about the safety of auction-rate securities.

New York Attorney General Andrew Cuomo is preparing to sue Charles Schwab, claiming the brokerage firm misled customers about the safety of auction-rate securities, according to a person familiar with the investigation.