In the years prior to 2009, MIND CTI Ltd. had US$22.8 million, almost two-thirds of its, then, current assets, tied up in collateralized debt obligation (CDO) bond investments issued by Merrill Lynch and structured as auction rate securities (ARSs), which were subsequently written down in their entirety. In September 2009 the company recovered US$18.5 million of the failed investment in an arbitrated settlement with Credit Suisse Group AG, its financial adviser, and, subsequently, in December 2009, the company paid out an extraordinary dividend of US$0.80 per share to its shareholders.