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Home | Local US News | Massachusetts | (AFX UK Focus) 2008-11-19 01:22 UPDATE 1-Massachusetts sues Oppenheimer & Co over ARS sales (Interactive Investor)

(AFX UK Focus) 2008-11-19 01:22 UPDATE 1-Massachusetts sues Oppenheimer & Co over ARS sales (Interactive Investor)

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BOSTON, Nov 18 (Reuters) - Massachusetts' top securities regulator sued the small investment bank Oppenheimer & Co for fraud on Tuesday, accusing it of deceiving customers in its sales of auction-rate securities. It is the first time a regulator has charged one of the handful of smaller brokers who resold ARS as safe and liquid investments at a time when the market for the securities was seizing ...

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