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Representing Individual, High Net Worth & Institutional Investors

Offices in Indiana and New York City


Stifel Financial

Following the collapse of the auction-rate securities (ARS) market in February 2008, hundreds of investors contacted the Missouri Secretary of State's office to report that they were misled by brokers who sold them the securities. Dozens of these investors filed formal complaints against Stifel Nicolaus specifically, claiming they had been promised the investments were the “same as cash.”

In the summer of 2008, many ARS investors received some monetary for their frozen investments through agreements negotiated between state authorities and the investment firms that underwrote or sold the auction bonds. The agreements required firms such as Citigroup, UBS and JP Morgan Chase to buy back the auction-rate securities at the prices their clients initially paid for them. St. Louis-based Stifel Nicolaus did not participate in these settlements.

If you are an individual or institutional investor and have concerns or questions about investments related to Stifel Nicolaus, contact Mark Maddox. We can evaluate your situation to determine if you have a claim.

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