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WELLS FARGO TO PAY $1.4 BILLION IN AUCTION-RATE SECURITIES SETTLEMENT

November 19, 2009

Wells Fargo & Co. will buy back an estimated $700 million in troubled auction-rate securities from California investors under terms of a settlement announced by Attorney General Jerry Brown on Wednesday. In a separate deal reached with the North American Securities Administrators Association, the San Francisco-based bank has agreed to repurchase nonliquid auction-rate securities totaling ...



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