ALBANY, N.Y. (AP) – Fidelity Investments will buy back $300 million worth of auction-rate securities from its customers to settle an investigation, New York Attorney General Andrew Cuomo’s office says.
The mutual fund company has agreed to buy back the securities from any of its customers including individuals, businesses and charities.
Terms of the deal, the first with a smaller brokerage on this issue, will be final by the end of the year.
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