TITLE

San Diego dumps Vinson from council fraud probe

AUTHOR(S)
Westacott, Gemma
PUB. DATE
September 2005
SOURCE
Lawyer;9/12/2005, Vol. 19 Issue 35, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that San Diego's city council has dropped Vinson & Elkins LLP from the investigation of the U.S. Securities and Exchange Commission (SEC) into allegations of securities fraud by municipal officials. Morgan Lewis & Bockius LLP will replace Vinson. The firm will help the SEC to conclude an 18 month investigation into the council's finances and its failure to disclose details of its pension fund deficit to potential investors. Vinson issued two reports on the pension troubles, revealing long-term disclosure flaws. However, the reports found no wrongdoing or any signs of a cover-up by municipal staff.
ACCESSION #
18345874

 

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