DALLAS - Wachovia Securities must repurchase all of the auction-rate securities sold in Texas by June and pay a $3.98 million fine under a final settlement order with state Securities Commissioner Denise Voigt Crawford.

Wachovia, now part of Wells Fargo, had reached a tentative settlement with Texas in August as part of a national deal that requires the securities dealer to repay investors $8.5 billion and pay a $50 million penalty.

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