Major banks accused of manipulating the variable-rate market are seeking to get the court to toss out the second amended whistleblower complaint filed by municipal advisor Johan Rosenberg.

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.

Thomas Muldoon should properly have placed his orders as dealer stock orders, the SEC found, but instead asked representatives to submit them as retail orders.

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

The complaint filed by Philadelphia and Baltimore fails to rise to the level of specificity needed to prove conspiracy, Wall Street banks told a federal judge.

Wells Fargo Securities head of public finance Chuck Peck breaks down today’s "tough" municipal market landscape, discusses how he plans to change the firm's direction, and why he embraces the challenges of the position. Hosted by Aaron Weitzman.

The judge ruled for Peter Cannava, who had denied wrongdoing even after Wells Fargo and other defendants settled charges.

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

Adding $374 million alleged in New York to the three other cases also filed by Johan Rosenberg brings the total damages claimed to $1.58 billion.

Philadelphia awarded a $190 million general obligation deal to banks the city is suing, alleging collusion on variable-rate debt.

Whistleblower Johan Rosenberg has alleged that the conspiracy cost issuers over $1 billion — $719 million in California, $349 million in Illinois, and $134 million in Massachusetts.

Municipal underwriters jockey for position as business increased 21.9% from the first quarter of last year.

With the Federal Reserve finished raising interest rates, some yield curve inversions would signal a coming recession, according to Brian Rehling of Wells Fargo Investment Institute.

Even before Tim Sloan stepped down as chief executive of the scandal-stung Wells Fargo, the bank had already gotten back into the good graces of the biggest U.S. state.

Cannava argues that emails, witness statements, and other evidence cast doubt on the SEC's claims that he acted recklessly.

The lawsuit filed in federal court is now the second national suit alleging fraud in the variable-rate debt market.

Banker Peter Cannava may be left to battle on alone, after the Securities and Exchange Commission and Wells Fargo told a federal court they have an agreement.

Shields, fired by Wells Fargo in December, joined Loop Capital Markets LLC as a managing director this week.

Municipal bond underwriters suffered from muted issuance under the new tax laws, as Bank of America Merrill Lynch remained on top of the year-end rankings.