A Virginia circuit court is preparing to reconsider Fluvanna County, Va.’s lawsuit against financial advisor Davenport & Co., after the state Supreme Court rejected the firm’s motion for it to reconsider and reverse its April decision that went against Davenport.

The county is seeking damages for misleading financial advice it claims Davenport provided while serving as its FA on a $67.5 million bond sale in 2008. The board asserts that it relied on Davenport’s services when issuing bonds and making other financial decisions, and that the FA breached its fiduciary duty and committed fraud when it encouraged the county to issue the debt in a standalone deal rather than participate in a pool transaction.

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