BIRMINGHAM, Ala. AP - Mayor Larry Langford joined with an investment banker and a political friend Monday in asking a court to throw out a Securities and Exchange Commission lawsuit accusing them of a sweetheart scheme involving bond deals.In court papers, all three men said the SEC lacked the power to file the complaint because the agency does not regulate the type of transactions at the center of the lawsuit.
July 01, 2008 at 12:00 AM
1 minute read
BIRMINGHAM, Ala. AP – Mayor Larry Langford joined with an investment banker and a political friend Monday in asking a court to throw out a Securities and Exchange Commission lawsuit accusing them of a sweetheart scheme involving bond deals.
In court papers, all three men said the SEC lacked the power to file the complaint because the agency does not regulate the type of transactions at the center of the lawsuit.
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