Weiss Called 'Extremely Negligent'

Hume, Lynn
March 2006
Bond Buyer;3/6/2006, Vol. 355 Issue 32332, p1
Trade Publication
The article reports on bond counsel Ira Weiss' negligence in giving a Pennsylvania school district an unqualified opinion that a $9.6 million arbitrage-driven three-year note transaction was tax-exempt in the United States. According to Weiss, he relied on school district officials in determining that the school projects were needed and would be developed. The Securities and Exchange Commission found that he should have known the purpose of the deal.


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