Firm Successfully Represents Broker-Dealer in Securities Auction Rate Case

A Barrasso Usdin trial team tried a securities fraud case in the United States District Court for the Eastern District of Louisiana. The plaintiff alleged that a broker-dealer client had made material misrepresentations and omissions in connection with the purchase of auction rate securities. The Court entered extensive findings of fact and conclusions of law rejecting and dismissing all of plaintiff’s claims. This is one of the first auction rate cases brought by an individual investor to be tried anywhere in the country. The trial team was headed by Thomas Roberts.