NY attorney general proceeds on ARS

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US - New York State attorney general Andrew Cuomo has announced his office is expanding its investigation into the auction rates securities scandal to include JP Morgan Chase, Morgan Stanley and Wachovia.

The move followed last week's agreements with UBS and Citigroup, resulting from a five-month industry investigation by Cuomo. The two companies will return over US$20bn to approximately 80,000 inve...

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