Calamos Asset Management, Inc. (Nasdaq:CLMS) shares are down more than 5% after the investment services company reported after Monday’s close that the law firm of Coughlin Stoia Geller Rudman & Robbins LLP filed a lawsuit against Calamos. The lawsuit alleges that Calamos made misleading statements about auction rate securities that violated the Securities Act of 1933.

In Tuesday afternoon trading, CLMS shares are down 5.36%, or $0.90, at $15.88. For detailed price information and recent news stories about Calamos Asset Management, click CLMS.  

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