October 20, 2008 – Crosby & Higgins LLP Begins Resolving Retail Auction Rate Securities Claims; Continues Fight on Behalf of Institutional Investors
October 20, 2008
Crosby & Higgins LLP has been at the forefront of the ARS crisis pursuing retail and corporate investor claims arising from the collapse of the Auction Rate Securities market, which resulted in investors being saddled with $300 billion in illiquid securities that were marketed as safe, cash equivalent investments. Over the past two months, Crosby & Higgins LLP has helped lead the charge to begin resolving individual retail investor claims, even as it continues actively pursuing claims on behalf of institutional investors who have been almost entirely excluded from the global regulatory settlements entered into earlier this year by numerous major financial institutions. These mid to large-size corporate and institutional investors generally have been promised only “best efforts,” and thus have little choice but to continue actively pressing claims to regain liquidity and access to the funds in their accounts, and to hold financial institutions responsible for any losses suffered by these investors.