Court cases

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

Investors are likely to lose millions whether the Atlanta-based financier continues under a court-appointed monitorship or not.

The U.S. Supreme Court agreed to hear a case that could upend the work of the oversight board tasked with pulling Puerto Rico out of its record bankruptcy.

The U.S. Court of Appeals for the District of Columbia ordered a district judge to review four documents totaling 16 pages in an IRS Office of Professional Responsibility case file for possible release under the federal Freedom of Information Act.

Todd Barker was one half of a duo the SEC said engaged in a $62 million fraudulent senior housing bond scheme.

Communities hoping to create their own cities by tearing away from established municipalities may find the price tag too high following a federal judge's recent decision, political experts and residents watching the Eagle's Landing, Ga., effort say.

A muni advisor facing an enforcement action could use a Supreme Court decision on gambling as a defense, a bond lawyer says.

The whistleblower responsible for federal investigations and lawsuits accusing banks and broker-dealers of fraud and collusion in the remarketing of variable rate demand obligations will likely be forced to go public because of a recent ruling by Massachusetts’ highest court.

Second District Judge Gregory FitzMaurice on Wednesday dismissed the city of Lewiston’s request to issue bonds to rebuild its wastewater treatment plant, ruling that the city didn’t meet the legal requirement to post notice of a court hearing at a “prominent” location at city hall.

The disclosure of some variable-rate demand obligation information on EMMA shouldn't be used to dismiss a lawsuit alleging fraud in VRDO remarketing,lawyers for the plaintiff told an Illinois court.

They are accused of improperly diverting newly issued municipal bonds to certain broker-dealers for a fee at the expense of retail investors.

Investors won't get nearly all their money back as the Securities and Exchange Commission's case against Dwayne Edwards and Todd Barker draws towards a close and SEC lawyers want the losses taken into account in settlements.

While the ruling wasn't a total victory for Wells Fargo or banker Peter Cannava, the court's decision grants them three more months of preparation in their fight against the SEC.

The settlement means the court won't decide the rights of bondholders versus pension funds.

Will a lawsuit alleging a conspiracy in the VRDO market be dismissed early?

Malachi Financial Products Inc. and its principal were charged with violating their fiduciary duty to a city in Mississippi, overcharging the city, and failing to disclose payments received from the underwriter.

The ruling may trigger the renegotiation of almost all public sector contracts, though severability clauses prevent immediate wage and benefit reductions.

The decision could ultimately free up more spending flexibility for state and local governments by weakening organized labor in the sector of the economy where the rate of unionization is the highest.

The SEC contends it played fairly in prosecuting its case against Wells Fargo Securities and Peter Cannava, denying the defense's allegations of dishonest "legal gamesmanship."

The state's highest court rejected a ballot question that would have asked voters to raise the state income tax on the commonwealth's top earners.