Has Your Company Lost Money In Auction Rate Securities?
Did a broker tell your company that auction rate securities (“ARS”) were a good place for your corporate cash reserves? Did he or she say that ARS were as safe as money market funds? Now you know better.
ARS Market Collapse
The auction rate securities (ARS) market collapsed in 2008. While some individual investors got their money back from regulatory settlements, corporate clients who trusted what they were told and invested their cash in ARS have been left out in the cold. Brokerage firms that once called ARS “cash equivalents” now argue that their clients should have known better than to believe them.
Recover Securities through FINRA Arbitration
At Smiley Bishop & Porter LLP, we have successfully represented a number of corporate investors whose funds have been frozen in the ARS market. It may not be too late for you to recover through securities arbitration at FINRA, but time is running short to bring claims.
Contact us today.
If you believe that your company has been the victim of investment fraud or malpractice with regard to ARS, we want to hear from you. Please call us at (770) 829-3850 or toll free at (800) 697-4514.