Wachovia
Written on October 1, 2008
Wachovia Securities will stand by its plan to buy back $9 billion in auction-rate securities it sold to clients, Missouri Secretary of State Robin Carnahan said Monday.
Under the agreement, the company will redeem $5.7 billion in the securities held by more than 40,000 individual investors by the end of November. Wachovia will buy back securities from institutions next year faxless payday advance.
Carnahan said the Missouri Securities Division obtained assurances from senior officials at the brokerage Monday that they would stand by the settlement reached in August.
Filed in: business.