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NEW YORK — Merrill Lynch & Co., Goldman Sachs Group Inc. and Deutsche Bank on Thursday joined other major financial companies in settling with regulators over their roles in selling risky auction-rate securities to retail investors.
Including these agreements, there are now eight global banks that have settled the five-month probe into claims they misled customers into believing the investments were safe. New York Attorney General Andrew Cuomo, leading the investigation for state and federal authorities, has now reached deals to buy back more than $50 billion worth of auction-rate securities.
