There is no shortage of potentially sympathetic plaintiffs. Richard Walden, who runs a charity called Operation USA, says he had to lay off two employees and close an office in Cambodia after the charity’s nearly $1.5 million in auction-rate securities became frozen and left him unable to get needed cash. The charity is considering joining a recently-filed potential class-action lawsuit as a named plaintiff against UBS AG, his organization’s broker. (A UBS spokeswoman said the firm doesn’t comment on individual clients and said the firm has offered customers loans against their securities if they need cash immediately.)
Via comment to an earlier post.