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Christopher P. Johnson, Charles M. Miller, Joshua Greenblatt


On behalf of specialty chemical company Ashland Inc., KBT&F filed a lawsuit on April 17, 2009 against brokerage firm Oppenheimer & Co., alleging that Oppenheimer fraudulently induced Ashland to purchase auction rate securities through false representations that the securities were cash-equivalent, liquid investments.  The complaint, filed in the United States District Court for the Eastern District of Kentucky, alleges that Ashland was stranded with $194 million in illiquid auction rate securities when the market for these securities collapsed in February 2008.  KBT&F attorneys Christopher Johnson, Charles Miller and Josh Greenblatt are leading Ashland's representation.