Law and legal issues

States could be forced to return stimulus aid if the Treasury Department finds the funds were used to offset tax cuts.

The Securities and Exchange Commission has charged an Illinois-based broker with defrauding three investors out of $800,000 by luring them into investing in nonexistent tax-exempt bonds.

Avoiding even the appearance of representing conflicting interests is important for attorneys and municipal advisors alike.

The Commission’s enforcement results highlight the importance of proper disclosure.

Michigan issued debt in June to cover its portion of the settlement approved by a federal judge Wednesday.

The legislation Gov. Pedro Pierluisi signed late Tuesday is sufficient to issue new bonds, the board said, which was integral to getting the island out of its $33 billion bankruptcy.

The case may turn on whether the SEC’s temporary order is capable of repetition and evading review.

Payments under the opioid settlement are too short-lived to securitize and local government participation remains unclear.

They argue the takeover violates their constitutional rights and say a voter-approved tax measure is illegal because it originated with state-appointed leaders.

A lawsuit accusing underwriter Stifel of negligence on one bond issue is pending and broader claims related to the financings are being considered.

Nathan Coco and Megan Preusker joined the firm this month, deepening the expertise offered by the firm's bankruptcy and restructuring practice.

Authorization to sell new bonds to replace existing debt is a necessary step to help finalize the island territory’s record bankruptcy.

New leaders could create a joint blueprint while sidestepping another fiscal cliff, said Peter Goldmark, a major player when the city nearly went bankrupt.

A superior court judge has granted the relator a small victory in a long fought case of alleged false claims, fraud and collusion.

The “tool kit” legislation expands powers of the Local Government Commission, including a last-resort legal process for voluntary or involuntary dissolution.

Having earnestly settled with every major constituency, it is time for the Board to do the right thing by abandoning unnecessary pension cuts and freezes.

The Federal Reserve told a judge not to scrap Libor as requested by consumers in a lawsuit because it would pose a risk to financial stability and undermine years of global planning for a transition to a new benchmark for borrowing rates.

A federal judge denied Nuveen's motion to dismiss Preston Hollow's antitrust lawsuit concluding a "plausible" claim exists to proceed. PHC faces a tougher legal road ahead in proving its rival orchestrated a damaging boycott.

The Michigan Supreme Court sided mostly with the state in a dispute over whether it was meeting local funding obligations under the Headlee Amendment.

Detroit Mayor Mike Duggan warns the revisions threaten the city's post-bankruptcy fiscal progress, but the charter commission calls the claim greatly exaggerated.