First Southwest Ends Muni Investment Bid-Rigging Claims

Law360, New York (May 10, 2013, 5:47 PM EDT) -- A New York federal judge on Friday approved a voluntary dismissal of First Southwest Co. from a spate of cases rolled into multidistrict litigation accusing several financial institutions of rigging bids on municipal derivatives.

U.S. District Judge Victor Marrero approved a stipulated dismissal of First Southwest from 20 bid-rigging cases that were lodged by different plaintiffs — including California municipalities like Los Angeles and San Jose and San Francisco County as well as local agencies like the Los Angeles unified school district and the redevelopment agency...
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