9th Circ. Affirms Win For Calif. City In Securities Row

Law360, Los Angeles (September 19, 2013, 5:39 PM EDT) -- The Ninth Circuit on Thursday affirmed a district court’s summary judgment in favor of the city of Alameda, Calif., in a securities fraud suit brought by a business trust that said it was not repaid $20.5 million to help fund the development of a cable and Internet system.

The decision comes after oral arguments in May, when Nuveen Municipal Trust alleged the city knew when it sold the municipal bonds to fund a city-run telecom system that it wouldn’t be able to repay investors. Nuveen argued that a California federal court was wrong to find Alameda immune under California law and...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Attached Documents

Related

Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

Appellate - 9th Circuit

Nature of Suit

3850 Securities, Commodities, Exchange

Date Filed

October 18, 2011

Law Firms

Companies

Judge Analytics