Wall Street

Waldman-v-Wachovia Auction Rate Securities Market Collapse

In the midst of the 2008 financial crisis, brokers who supported the Auction Rate Securities Market market simultaneously withdrew their support, which compromising the auction rate markets' liquidity and caused its collapse.


Prior results do not guarantee or predict a similar outcome in any future matter.

Our Role

Seeger Weiss was appointed by the United States District Court of the Southern District of New York to serve as Liaison Counsel for the case against Wachovia on behalf of investors. As liaison counsel, Seeger Weiss attorneys helped to direct negotiations for the final settlement between the company and many clients in which the company agreed to repurchase a total of approximately $22 billion of ARS nationally over.

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