The U.S. Securities and Exchange Commission sued the City of Rochester, Capital Markets Advisors and other defendants Tuesday in New York Western District Court in connection with $119 million in municipal bonds that were sold on behalf of the city’s school district.

The complaint alleges that the defendants submitted offering documents that contained outdated financial information, and failed to disclose to investors that the district was in ‘financial distress.’

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]