DOJ Jostles With SEC Over Muni Bond Suits

Law360, New York (May 16, 2011, 7:46 PM EDT) -- The U.S. Department of Justice on Monday successfully stayed the U.S. Securities and Exchange Commission’s deposition in a suit against two ex-J.P. Morgan Securities Inc. directors in Alabama in order to protect its antitrust probe of the municipal bond market.

The judge overseeing the SEC’s case accusing the J.P. Morgan directors of paying $8 million to land lucrative bond contracts from Jefferson County, Ala., stayed the deposition of a key witness in deference to the DOJ’s ongoing criminal investigation in New York of bid-rigging in the...
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