Barclays

Compensation played a role in the departures, sources said.

The departures happened around the time Barclays handed out companywide bonuses and coincided with the firm in the process of shrinking its muni footprint in the regions, according to sources.

Barclays joins UBS and Citigroup in being prohibited from underwriting state and local government bonds under Texas laws aimed at protecting the fossil fuel and firearms industries.

The Puerto Rico Oversight Board is seeking the return of fees connected with Puerto Rico bonds and swaps.

The office of Rob Bonta filed its objection to the dismissal with a California appellate court in San Francisco May 19.

The top muni underwriters accounted for $406.51 billion in 10,582 transactions in 2019 compared to $320.35 billion in 8,549 deals in 2018. There was only one change in the top five year-over-year but spots six through 10 saw three changes. Barclays and Stifel both had big improvements in the rankings, while Raymond James dropped the most.

Municipal underwriters saw increased business, as demand for muni bonds jumped through the roof. Top muni underwriters accounted for $267.51 billion in 7,310 deals, up from $239.33 billion in 6,406 transactions in the first nine months of 2018.

The legal teams for Baltimore and Philadelphia asked the court to reject the banks’ plausibility argument as well as their claim that the suit is barred by a four-year statute of limitations.

Two courts have interpreted a legal question key to the VRDO lawsuits very differently.

The amended lawsuit references inside sources who allegedly confirm that the banks worked together in violation of antitrust law.