Pharma Investments, Ventures & Law Weekly
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Ashland Inc.
Ashland Inc. Sues Oppenheimer & Co. Over Auction-rate Securities
May 3rd, 2009
Ashland Inc. (NYSE: ASH) announced that it has filed suit in the United States District Court for the Eastern District of Kentucky against Oppenheimer & Co. Inc. to recover damages relating to the sale of $194 million of auction-rate securities (ARS) by Oppenheimer to Ashland in 2007 and early 2008. In its complaint, Ashland seeks damages and other relief to compensate the company for the losses it suffered when the promised liquidity of these securities was severely impacted by the collapse of the ARS market in early 2008. Ashland is represented in this action by Kasowitz, Benson, Torres & Friedman LLP and Dinsmore & Shohl LLP. ...
Source: Pharma Investments, Ventures & Law Weekly (2009-05-03)
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