Treasury cancels auction of Liberty Shares’ TARP cumulative preferreds

By Stephanie N. Rotondo

Phoenix, Nov. 21 – An auction of Liberty Shares Inc.’s series A and B fixed-rate cumulative preferred stock was cancelled by the U.S. Department of the Treasury, according to a press release.

The modified Dutch auction ended Thursday.

The Treasury said the auction was nixed, because it did not receive sufficient bids above the minimum price.

Liberty issued the shares to the Treasury under the Troubled Asset Relief Program.

Liberty is a Hinesville, Ga.-based financial holding company.

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