JP Morgan Returns More Than $28 Million to Missouri Auction Rate Securities Investors

On September 21, 2009, Missouri Secretary of State Robin Carnahan announced that her office had finalized a consent order with JP Morgan Chase & Co. related to the firm’s marketing and sale of auction rate securities (ARS) to Missouri investors.

According to the press release, Missouri investors will receive more than $28 million. In addition, JP Morgan will pay $86,000 to the Missouri Investor Education and Protection Fund, which is used to educate Missourians about potential investment fraud and other fraudulent schemes.

JP Morgan, like many of the other investment firms across the country marketed auction rate securities as “safe,” “liquid,” and “same as cash,” when, in fact, the investments were subject to the willingness of many of the same firms to provide the necessary liquidity to sustain the auction rate securities market. As these firms’ liquidity began to diminish in late 2007 and early 2008, they became unable to support the market with the necessary liquidity. As a result, in mid-February 2008, the auctions failed and investors were stuck holding long-term and perpetual investments that paid short-term interest rates.

The Kueser Law Firm represents investors in securities arbitration and litigation. If you were sold Auction Rate Securities and your positions have not been redeemed or repurchased, you should contact an attorney to discuss your rights. Feel free to contact us if you have any questions or would like additional information.

Technorati : , , , : , , ,
Zooomr : , , ,


Maintained by The Kueser Law Firm

The Kueser Law Firm | Securities Arbitration Attorney | Securities Arbitration Lawyer | Missouri Securities Arbitration Lawyer | Kansas Securities Arbitration Attorney

Social Media – Follow The Kueser Law Firm


The choice of an attorney is an important one and should not be based solely upon advertisements such as this website. Past results afford no guarantee of future results. Every case is different and must be judged on its own merits.

*Any information submitted via this website may not be secure and/or confidential. Merely contacting this firm does not establish an attorney-client relationship.

Contact The Kueser Law Firm

Mailing Address:
P.O. Box 612
Lee's Summit, Missouri 64063
Phone: 816.374.5865
E-mail: Click Here
Your Name (required)

Your Email (required)

Phone Number (optional)


Your Message:

To eliminate spam, please type the following code in the line below and press the Send button:

RSS News – Securities Fraud

RSS SEC – Press Releases

  • Former Goldman Employee Charged With Insider Trading Before Mergers
    The Securities and Exchange Commission today announced insider trading charges against a former Goldman Sachs employee accused of stealing nonpublic information in the firm’s e-mail system so he could trade illegally in advance of client mergers and make more than $450,000 in illicit profits.  The SEC has obtained an emergency court order to freeze the […]
  • SEC Charges Political Intelligence Firm
    The Securities and Exchange Commission today announced that a political intelligence firm agreed to admit wrongdoing and pay a $375,000 penalty for compliance failures. Marwood Group Research LLC also agreed to retain an independent compliance consultant after an SEC investigation found that the firm failed to properly inform compliance officers about instances when analysts obtained […]
  • SEC: Stockbroker Stole Investor Money for Home Renovations
    The Securities and Exchange Commission today announced fraud charges against a former stockbroker accused of stealing investor money to remodel his house and pay other bills. The SEC alleges that Bernard M. Parker raised more than $1.2 million from his longstanding brokerage customers and others who were told they were purchasing legitimate real estate tax […]
  • Atlanta Businessman Charged in Nursing Home Investment Scheme
    The Securities and Exchange Commission today announced fraud charges and an emergency asset freeze obtained against an Atlanta-based businessman accused of misusing investor funds raised to purchase and renovate senior living facilities. The SEC alleges that Christopher F. Brogdon amassed nearly $190 million through dozens of municipal bond and private placement offerings in which investors […]
  • Assets Frozen in Alleged Immigration Scam
    The Securities and Exchange Commission today announced it has obtained a court order freezing the assets of a South Florida woman and her company accused of purchasing a boat and luxury cars with money she raised from investors seeking U.S. residency through the EB-5 Immigrant Investor Pilot Program.  Under the EB-5 program, foreign citizens may […]