Providence, R.I.'s lawsuit accusing an actuary of miscalculating city savings on pension benefits reflects the increasing exposure of city advisors and vendor firms to liability, municipal and legal experts say.

"I think this is the first of a wave. Everybody is fair game," Bill Brandt, president and chief executive of Chicago workout firm Development Specialists Inc. and chairman of the Illinois Finance Authority, said Thursday, one day after Rhode Island's capital city sued Buck Consultants LLC in U.S. District Court in Rhode Island.

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