CHICAGO — The Securities and Exchange Commission is investigating Chicago-based UNO Charter School Network for potential securities violations apparently tied to its October 2011 $37 million bond issue, the organization disclosed Wednesday.

The network issued $37 million of mostly tax-exempt new-money and refunding bonds in 2011 to help fund its ongoing expansion. The Illinois Finance Authority issued the bonds on the not-for-profit's behalf. Robert W. Baird & Co. Inc. and Cabrera Capital Markets LLC served as underwriters with Kutak Rock LLP acting as bond counsel.

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