Webb v. First Tennessee Brokerage, Inc., in which the court held that a purchaser of Lehman Brothers bonds was not required to arbitrate dispute with broker; cautionary tale for brokerage firm clients. Wall Street Journal article on an investment firm specializing in distressed municipal debt. IRS announces new Exempt Organizations Workshops focusing on changes to
April 23, 2013 – Issue 16
First Arkansas Bank & Trust, Trustee v. Gill Elrod Ragon Owen & Sherman, P.A., in which the Supreme Court of Arkansas discusses the liability of issuer’s counsel to purchasers in bond offering, finding: 1) no liability under state securities act; 2) no relationship giving rise to a duty under contract, negligence, or breach of a
April 17, 2013 – Issue 15
You may find the following items in this issue of particular interest: Kaplan v. Shanahan, in which the court affirmed an arbitration award in which the prevailing party was awarded attorneys’ fees, as the parties had agreed to be bound by FINRA arbitration rules, which permit such fees. State v. McElroy, in which a city
April 10, 2013 – Issue 14
You may find the following items in this issue of particular interest: Wells Fargo Advantage Nat. Tax Fee Fund v. Helicon Associates, Inc., in which the appeals court reversed summary judgment in favor of a law firm on securities law and negligent representation allegations in connection with a bond issuance for which the firm served
April 4, 2013 – Issue 13
You may find the following items in this issue of particular interest: In re Blue Ridge Housing of Bakersville LLC, in which a North Carolina court held that a nonprofit organization was the “owner” of low income housing development, and thus development entitled to property tax exemption, even though nonprofit had only a 0.1% legal
March 13, 2013 – Issue 10
You may find the following items in this issue of particular interest: Borikas, et al. v. Alameda Unified School District, in which a California appeals court found that that parcel tax’s residential/commercial property classifications and differential tax burdens based on property size exceeded the school district’s taxing authority. Northglenn Urban Renewal Authority v. Gil Reyes,