Luby's Inc. (LUB) said late Thursday the Financial Industry Regulatory Authority ruled that Credit Suisse Securities must buy back auction-rate securities that Luby's had bought through Credit Suisse.

Credit Suisse was also ordered to pay 6% per annum interest on the securities. The decision makes no specific findings of fact but Luby's had claimed that it hasn't been able to sell the auction-rate securities because of Credit Suisse.

Luby's holds $7.1 million par value in auction-rate securities and is expected to record a pretax gain of about $1.8 million in the fourth quarter from the sale of the securities.

-Sue Chang; 415-439-6400; AskNewswires@dowjones.com
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