Investor Angst, Regulatory Probes And Litigation Intensify Over Auction Rate Securities
Investor angst concerning auction rate securities (ARS) continues, and indeed has worsened over the last few months. In May 2008, the New York Times reported that $300 billion worth of investors’ funds were “still locked up” and that 70% of all weekly auctions still were failing. Additionally, ARS investors, especially those subject to class action filings, must be on guard to protect their rights. Let’s discuss why.
FinancialCounsel.com, hosted by James J. Eccleston, is the companion website to this blog. It contains complimentary material of general interest to investors and financial services professionals. Investors will find material on securities arbitration to recover investment losses; industry and financial markets intelligence; and strategies for estate planning. Professionals have access to material on broker/adviser registration, regulation, compliance and disciplinary proceedings; industry and financial markets intelligence; strategies for estate planning; and broker/adviser employment litigation and injunctions, including defamation and non-competition/solicitation issues. 
James J. Eccleston heads the securities group at Shaheen, Novoselsky, Staat, Filipowski & Eccleston, P.C., a business law firm dedicated to closely-held business owners, senior executives and high net worth individuals. With three core practice groups - securities, general litigation, and corporate / transactional - and many subspecialties, SNSFE provides our clients a full spectrum of legal services, from start-up to succession planning. Visit us at snsfe-law.com or call 312.621.4400 for more information. 
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