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Article: ENFORCEMENT: B of A In Midst Of Probe; Documents Point To Firms' Collusion.(Washington)
- Article from:
- The Bond Buyer
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 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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Byline: Andrew Ackerman
WASHINGTON - Court documents filed in class action and other lawsuits by issuers' lawyers who were briefed by attorneys at Bank of America - the one firm that is cooperating with the Justice Department's antitrust probe in return for indemnity from criminal charges - present a disturbing picture of alleged widespread collusion between dozens of firms involved with municipal investment contracts and derivatives.
Relying largely on information from a confidential witness at Bank of America called CW, the lawsuits provide something of a play-by-play primer on routines among certain firms in the reinvestment and derivatives business. ...