OVERVIEW OF THE CASE AND ONGOING INVESTIGATION
SSH has filed several cases alleging securities fraud in connection with the sale of auction rate securities by a number of major broker-dealers.
According to recent news articles, the broker-dealers and issuers materially misrepresented the liquidity and risks of the auction rate securities to individual investors and corporations by labeling these securities as "cash equivalents," in press releases, monthly account statements, individual communications with investors, and other investment guidance material. In fact, the promised liquidity of the auction rate securities was created through artificial intervention in the auctions by the broker-dealers.
The following cases have been filed to date:
Wells Fargo - Class Period: April 14, 2003 through February 13, 2008.
Wells Fargo ARS Class Action Complaint
Stifel Financial Corporation - Class Period: June 11, 2003 through February 13, 2008.
Stifel Financial Corporation ARS Class Action Complaint
Bank of America - Class Period: May 22, 2003 through February 13, 2008.
Bank of America ARS Class Action Complaint
Northern Trust Securities - Class Period: September 16, 2003 through February 13, 2008.
Northern Trust Securities ARS Class Action Complaint
H&R Block - Class Period: August 26, 2003 through February 13, 2008.
H&R Block ARS Class Action Complaint
DEUTSCHE BANK - Class Period: March 17, 2003 through February 13, 2008.
Deutsche Bank ARS Class Action Complaint
TD AMERITRADE - Class Period: March 19, 2003 through February 13, 2008.
TD Ameritrade ARS Class Action Complaint
WACHOVIA - Class Period: March 19, 2003 through February 13, 2008.
Wachovia ARS Class Action Complaint
UBS - Class Period: March 21, 2003 through February 13, 2008.
UBS ARS Class Action Complaint
MERRILL LYNCH - Class Period: March 25, 2003 through February 13, 2008.
Merrill Lynch ARS Class Action Complaint
MORGAN STANLEY - Class Period: March 25, 2003 through February 13, 2008.
Morgan Stanley ARS Class Action Complaint
JPMORGAN - Class Period: July 10, 2004 through February 13, 2008.
JPMorgan ARS Class Action Complaint
(O'Gara v. JPMorgan Chase & Co.)
E*TRADE - Class Period: April 2, 2003 through February 13, 2008.
E*Trade ARS Class Action Complaint
RAYMOND JAMES - Class Period: April 8, 2003 through February 13, 2008.
Raymond James ARS Class Action Complaint
OPPENHEIMER - Class Period: April 9, 2003 through February 13, 2008.
Oppenheimer ARS Class Action Complaint
ROYAL BANK - Class Period: May 12, 2003 through February 13, 2008.
Royal Bank ARS Class Action Complaint
