{"id":1366,"date":"2013-12-29T18:28:40","date_gmt":"2013-12-29T18:28:40","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2013\/12\/finra_arbitration_panel_says_w"},"modified":"2022-03-10T16:37:05","modified_gmt":"2022-03-10T22:37:05","slug":"finra-arbitration-panel-says-w","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-arbitration-panel-says-w\/","title":{"rendered":"FINRA Arbitration Panel Says Wells Fargo Must Repurchase $94M of Auction-Rate Securities from Investors"},"content":{"rendered":"

\t\t\t\tA Wells Fargo & Co. (WFC) brokerage unit must buy back almost $94 million in auction rate securities from the family who said their adviser misrepresented the investments. The claimants are the relatives of deceased newsstand magnate Robert B. Cohen, who founded the chain Hudson News. Cohen died in 2012.<\/p>\n

His family contends that Wells Fargo Advisors and one of its advisors made misleading and fraudulent statements about municipal auction-securities. They are alleging breach of fiduciary duty, negligence, and fraud in their municipal auction-rate securities fraud claim. <\/p>\n

Now, the firm must buy back at face value the municipal ARS it helped Cohen, his family, and affiliated business purchase. The transactions started beginning March 2008.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

A Wells Fargo & Co. (WFC) brokerage unit must buy back almost $94 million in auction rate securities from the family who said their adviser misrepresented the investments. The claimants are the relatives of deceased newsstand magnate Robert B. Cohen, who founded the chain Hudson News. Cohen died in 2012. His family contends that Wells […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3865,3752,3739,3836],"tags":[],"class_list":["post-1366","post","type-post","status-publish","format-standard","hentry","category-auction-rate-securities","category-financial-firms","category-finra","category-wells-fargo"],"yoast_head":"\nFINRA Arbitration Panel Says Wells Fargo Must Repurchase $94M of Auction-Rate Securities from Investors — Investor Lawyers Blog — December 29, 2013<\/title>\n<meta name=\"description\" content=\"A Wells Fargo & Co. 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