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Carnahan plans St. Louis announcement about securities investigation

Thursday, March 12, 2009 | 12:51 p.m. CDT

ST. LOUIS — Missouri Secretary of State Robin Carnahan has planned a news conference in St. Louis to make what she calls a major announcement regarding her investigation into the sale of auction-rate securities.

The news conference is scheduled for 2 p.m. Thursday at her St. Louis office. Carnahan will be joined by Doug Ommen of the Missouri Attorney General's office.

Carnahan has been investigating and working with several financial institutions over concerns that investors have lost access to their money frozen in auction-rate securities.

Stifel, Nicolaus & Co. recently agreed to buy back some auction-rate securities it sold before the market for the securities collapsed.

Her office reached earlier agreements with Wachovia Corp. and Commerce Bank.

 


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