Wyoming gets $500K from securities settlement

Wyoming has been paid nearly $500,000 from a multi-state settlement stemming from a financial company selling unregistered securities.

KGWN-TV reports Wyoming Secretary of State Edward Buchanan announced Thursday LPL Financial has given the state its portion of the $26 million settlement.

Securities regulators from multiple states investigated the company, finding it failed to maintain measures to prevent the sale of unregistered securities.

Buchanan says the settlement money will be transferred to the Common School Permanent Land Fund.

LPL Financial also agreed to offer to repurchase the unregistered securities from investors.

Officials say the Wyoming investors affected by the settlement will be contacted directly.