Securities
Oct. 3, 2013
Nontraditional markets present tricky causation hurdles
For bondholders, it is exceedingly difficult to prove that a statement made at the time of issuance is a substantial factor that caused a loss of investment value years later. By Nicole Duckett Fricke
On Sept. 19, the 9th U.S. Circuit Court of Appeals affirmed the district court's summary judgment ruling in favor of the city of Alameda. Nuveen Municipal High Income Opportunity Fund v. City of Alameda, 2013 DJDAR 12739. The 9th Circuit also affirmed the lower court's finding that the city was immune under California Government Claims Act Section 818.8 from plaintiff Nuveen's California Corporate Securities Act c...
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