The U.S. Department of Justice is reviewing documents from the Allegheny County Port Authority that relate to agreements with CDR Financial Products Inc.
ACPA spokesman Jim Richie said the authority handed over the paperwork in March or April in response to a subpoena by the DOJ’s antitrust division.
“It’s our understanding that we are, potentially, a victim, and that’s all we know about it right now,” he said.
Richie would not offer specifics on the document request. He declined to say when CDR Financial Products, previously Chambers Dunhill Rubin & Co., worked for the Port Authority or in what capacity.
The Allegheny County Airport Authority tomorrow will submit to the DOJ information on a $114.5 million 2002 auction-rate bond deal, including services provided by CDR.
The documents are being sought in connection with an ongoing nationwide probe of anticompetitive practices in the municipal bond market. The DOJ investigation surfaced in November 2006 when the FBI raided CDR’s Beverly Hills office, as well as the offices of several other investment advisers.