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Wells Fargo Investors Recover $1.4 Billion By Mike Sachoff California Attorney General Edmund Brown has announced that 3,500 investors, whose holdings in auction rate securities were frozen in the financial crisis of 2008, have recovered $1.4 billion through a settlement with Wells Fargo affiliates. "We went to bat for people who believed their investments were like cash," Brown said, "but discovered after the financial meltdown that they couldn't get their hands on even a dime of their money for two long years. Now, because of the settlement, they have all of their money back." The investors, of all sizes, included retirees, working families, small businessmen, and charities. Nearly half are Californians, who received $695 million through buybacks of their securities by Wells Fargo. Continue Reading

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