Banking Law
Suit Cites E-mail as Proof of Huge Conspiracy to Rig Municipal Bond Rates
Posted 10 hours, 32 minutes ago
By Debra Cassens Weiss
Bank of America e-mails are being cited as proof in a lawsuit by Los Angeles that claims the city's brokers took kickbacks in a massive scheme to rig the bidding for municipal bonds.
The suit filed in Los Angeles superior court claims the rigged auctions increased profits for banks and deprived the city of millions of dollars in investment returns, the Daily Journal reports (sub. req.).
Some of the financial institutions named in the suit include Bear Sterns, JP Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, AIG and Smith Barney, according to the story.
The suit says the scheme is also the subject of a federal grand jury probe in New York, the Continue reading...
-
San Diego Lawsuit Seeks to Stop Countrywide Foreclosures
11 hours, 43 minutes ago
-
More Builders Sue Lenders for Dried-Up Financing
Jul 23, 2008, 06:49 am CDT
-
Lender CEO OK’d Judge’s Refi While Class Action Was Pending, Magazine Says
Jul 22, 2008, 12:57 pm CDT
-
‘Lolita’ Lawyer, an Ex-Cravath Partner, Blames Arrest on AmEx in $4M Suit
Jul 22, 2008, 11:52 am CDT
-
Anatomy of a Bankruptcy: Too Much Credit, High Fees, Bad Breaks
Jul 21, 2008, 05:02 pm CDT
-
Feds Probe Possible Fraud in IndyMac Bank Failure
Jul 16, 2008, 04:46 pm CDT
-
New IRS Rules Target Secret Offshore Bank Accounts
Jul 16, 2008, 12:00 pm CDT
-
Countrywide Agrees to Pay $325K to Settle Trustee’s Late Fee Accusations
Jul 16, 2008, 07:09 am CDT
-
Fla. Law Firm Has Filed About 70 Fraud Suits Against Lenders
Jul 10, 2008, 06:08 am CDT
-
US Court Tells Swiss Bank UBS to Reveal Customer Names
Jul 1, 2008, 06:15 pm CDT
-
Another AG Sues Countrywide
Jul 1, 2008, 01:44 pm CDT
-
DOJ Seeks Rare Federal Court Ruling Forcing UBS to Name Names
Jul 1, 2008, 12:35 pm CDT
-
Construction Boom Leads to More ATM Machine Thefts
Jun 27, 2008, 01:08 pm CDT
-
AGs in 2 States Sue Countrywide, Allege Deceptive & Unfair Practices
Jun 25, 2008, 03:32 pm CDT
-
JPMorgan Axes Linklaters Over Bear Stearns Suit
Jun 23, 2008, 01:26 pm CDT
-
Will Prosecutors Get Help From ‘Toast’ E-Mail by Bear Stearns Manager?
Jun 19, 2008, 08:05 am CDT
-
Treasury Secretary to Call for Greater Powers for Federal Reserve
Jun 19, 2008, 06:14 am CDT
-
Bear Stearns Ace Joins K&L Gates
Jun 16, 2008, 04:34 pm CDT
-
Fearing Foreclosure, Debtors Sue Lenders Over Excessive Mortgages
Jun 12, 2008, 01:27 pm CDT
-
More than 30 Thacher Lawyers Quit in Last 6 Months
Jun 11, 2008, 03:25 pm CDT
-
Criminal Cases Against Mortgage Leaders Unlikely, Despite Subprime Crisis
Jun 9, 2008, 12:13 pm CDT
-
Debt Collectors Clog Chicago Courts With Sometimes-Dubious Claims
Jun 9, 2008, 10:27 am CDT
-
Worried About Class Action Damages, Banks Block Private Auction-Rate Sales
Jun 6, 2008, 11:23 am CDT
-
Billionaire Olenicoff’s Plea Docs Describe Tax Evasion Techniques
May 30, 2008, 06:18 pm CDT
-
Subprime Suits Expected to Dwarf S&L Litigation, New Report Suggests
May 20, 2008, 06:01 am CDT
-
Bank Said $280,000 Deposit was Valid, But Now Wants It Back
May 15, 2008, 02:51 pm CDT
-
Judge Refuses to Dismiss Countrywide Shareholder Suit
May 15, 2008, 05:58 am CDT