Chicago yield-burning suit targets dealers, accountants

Shields, Yvette; Hume, Lynn
April 1999
Bond Buyer;04/12/99, Vol. 328 Issue 30617, p1
Trade Publication
Cites the federal class-action lawsuit filed against Everen Securities Inc. and Prudential Securities Inc. for overcharging Chicago, Illinois on two advance refunding deals. First yield-burning litigation in Illinois; First case of its kind to name as co-defendants the accounting firms that reviewed the arbitrage calculations; Possible filing of another lawsuit involving a separate deal.


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