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Article: Iowa Trust seeks to add Marshalltown to suit against law firm, ex-trustees.
- Article from:
- The Bond Buyer
- Article date:
- December 4, 1992
- Author:
CopyrightCOPYRIGHT 1992 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO - Representatives for the Iowa Trust late Wednesday took legal action against Marshalltown, Iowa, claiming that its former city treasurer failed to adequately monitor the activities of the trust's investment adviser.
David Lyons, receiver for the Iowa Trust, said he filed a petition in Polk County District Court to add Marshalltown to a lawsuit originally filed in December 1991 against former trustees and the trust's legal counsel. Those named in the original suit included former Marshalltown Treasurer Elaine Gundacker and the trust's legal counsel, Davis, Hockenberg, Wine, Brown, Koehn & Shors of Des Moines.
Iowa Deputy Attorney General John ...