Firm: Washington Mum Market at Stake in Case

Hume, Lynn
March 2006
Bond Buyer;3/3/2006, Vol. 355 Issue 32331, p1
Trade Publication
The article reports on Prudential Securities Inc.'s arguments challenging the bondholders' appeal of a jury's finding that it did not violate state securities laws by selling bonds. Prudential claims that the Washington State Supreme Court will harm the municipal securities market in the state if it agrees with bondholders in the Holmes Harbor Sewer District case. The bondholders argue that Prudential should be liable for misrepresentations and omissions in the offering documents for bonds that the company sold and did not underwrite.


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