{"id":4590,"date":"2008-03-28T17:33:43","date_gmt":"2008-03-28T17:33:43","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2008\/03\/auctionrate_securities_to_be_p"},"modified":"2021-09-20T15:40:54","modified_gmt":"2021-09-20T20:40:54","slug":"auctionrate-securities-to-be-p","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/auctionrate-securities-to-be-p\/","title":{"rendered":"Auction-Rate Securities to be Priced this Weekend by UBS \u2013 Others to Follow?"},"content":{"rendered":"

\t\t\t\tAfter weeks in limbo, some holding auction rate securities may gain some insight about their fate this weekend as UBS reports it will be “pricing” ARS securities in its customers’ accounts. <\/p>\n

Brokerage firms and other financial institutions sold many ARS securities as comparable to money market funds, commercial paper and other liquid investments. Investors were later shocked to learn that the auctions “failed,” they were unable to sell securities and given little if any guidance in evaluating their situation. Many have been told their securities retain their “full value” but they would have to wait on their funds. <\/p>\n

Perhaps realizing that this sham can go on no longer, using an internal model to value the securities, UBS will reportedly mark these down this afternoon and inform clients of such valuations via their online statements. Markdowns will apparently range from a few percentage points to more than 20%. Many believe that a portion of ARS securities are worth far less. <\/p>\n

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

After weeks in limbo, some holding auction rate securities may gain some insight about their fate this weekend as UBS reports it will be “pricing” ARS securities in its customers’ accounts. Brokerage firms and other financial institutions sold many ARS securities as comparable to money market funds, commercial paper and other liquid investments. 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