BRADENTON, Fla. - Alabama on Tuesday filed a complaint in federal court asking a judge to void a swaption the Alabama Public School and College Authority entered into in 2002 and 2003 with JPMorgan.

In addition to questioning the validity of the original transaction under Alabama law, the state's complaint also said that published reports indicate investigations are under way by the Securities and Exchange Commission and Justice Department into JPMorgan's participation in transactions such as the one Alabama is contesting.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.