In a settlement with Colorado regulators, Credit Suisse Securities LLC has agreed to buy back $79.4 million in auction-rate securities from Colorado investors.
The settlement with the Colorado Department of Regulatory Agencies' securities division concludes a probe led by state securities regulators into allegations that Credit Suisse failed to ensure all of its sales representatives made appropriate disclosures to customers regarding the nature and risks of auction-rate securities, according to a statement posted on the division's Web site.
A unit of Wells Fargo & Co., in a settlement with regulators two weeks ago, agreed to return about $1.4 billion to clients who were stranded in auction-rate securities. More than a dozen other companies have also settled auction-rate securities cases.
