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State: Firm knew of market woes

Galvin says bank pressed its brokers to unload securities

By Beth Healy
Globe Staff / June 27, 2008

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Executives at the highest level of UBS Financial Services Inc. knew as early as last fall that the auction-rate securities market was failing, and urged brokers to move the investments from the firm's books into the hands of individual clients, state regulators alleged in a lawsuit filed yesterday against the brokerage. (Full article: 909 words)

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