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Wachovia Agrees to Preliminary Auction Rate Securities Settlement That Would Offer Approximately $9 Billion to Investors

August 18, 2008 at 1:08 pm · Filed under SEC

The Securities and Exchange Commission’s Division of Enforcement today announced that investors, small businesses, and charities who purchased auction rate securities through Wachovia Securities, LLC and Wachovia Capital Markets, LLC could receive up to $9 billion to fully restore their losses and liquidity through a preliminary settlement that has been reached with Wachovia.

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