Seeger Weiss is part of a consortium of law firms that have taken a leading role in bringing actions against the broker-dealers involvedin the auction rate securities market´s collapse. Seeger Weiss and its co-counsel have sued various auction-rate security broker-dealers alleging that they knew, but failed to disclose material facts about the auction rates market and the securities they sold to their investors, including that the securities were not cash alternatives, like money market funds but, rather, were complex, long-term financial instruments with 30-year or longer maturity dates; and that they were only liquid at the time of sale because the broker-dealers were artificially supporting and manipulating the auction market to maintain the appearance of liquidity and stability.