SCO Loses Auction-Rate Securities Arbitration With Jefferies

Jul 11 2012 | 12:29pm ET

Hedge fund SCO Capital Partners can't have the nearly $180 million it sought from Jefferies & Co. in a dispute over auction-rate securities.

SCO had accused Jefferies of negligence in selling it securities it deemed unsuitable. The hedge fund had asked a Financial Industry Regulatory Authority panel to force the bank to buy back the $18 million in ARS in question—and to force it to pay some $160 million in damages.

The FINRA arbitration panel did not explain its decision.

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