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KV Pharmaceutical sues Citigroup over auction-rate securities

KV Pharmaceutical Co., a St. Louis-based drug company, sued Citigroup Global Markets Inc., claiming the investment banking unit compelled it to buy $73.9 million worth of illiquid auction-rate securities. The Citigroup unit misled KV, telling it that the securities were saleable between auctions and that, in the event an auction failed, the unit would continue to ...

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