http://www.marketwatch.com/story/wachovia-settles-class-action-suit-for-627m-2011-08-05
Aug. 5, 2011, 12:08 p.m. EDT
Wachovia settles class action suit for $627M
Still looking for what happened to that SEC investigation and found this:
SEC Charges Wachovia With Fraudulent Bid Rigging in Municipal Bond Proceeds
Wachovia Agrees to $148 Million Settlement With SEC and Other Authorities
FOR IMMEDIATE RELEASE
2011-257
Washington, D.C., Dec. 8, 2011
http://www.sec.gov/news/press/2011/2011-257.htm
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Only reason I mention is that it appears that SEC gets a complaint, SEC “investigates,” and, depending on rank on the SEC’s most-favored list, said corporation in question gets tapped on the knuckles and pays a quite reasonable pay-to-play fine.