{"id":712,"date":"2010-06-26T21:00:18","date_gmt":"2010-06-26T21:00:18","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2010\/06\/texas_attorney_general_candida_1"},"modified":"2022-03-09T16:00:41","modified_gmt":"2022-03-09T22:00:41","slug":"texas-attorney-general-candida-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/texas-attorney-general-candida-1\/","title":{"rendered":"Texas Attorney General Candidate Barbara Ann Radnofsky Says State Should File Securities Fraud Lawsuit Against Wall Street Firms"},"content":{"rendered":"

\t\t\t\tBarbara Ann Radnofsky, the Democratic candidate for Texas attorney general, says that the state should sue Wall Street firms for securities fraud<\/a>. Earlier this week, she published a legal brief accusing investment banks of being responsible for the financial crisis. Her Texas securities fraud <\/a>briefing, which is modeled on the multibillion-dollar tobacco settlements from the 1990’s, is seeking approximately $18 billion in securities fraud damages and other reparations for Texas. She targets Morgan Stanley<\/a>, Goldman Sachs Group, AIG insurance, and other leading financial firms, banks, and bond-rating agencies. <\/p>\n

Radnofsky’s brief is not a securities fraud lawsuit, but it is a framework for one. She hopes that it will push incumbent Texas Attorney General Greg Abbott to take action. She contends that if Abbott fails to sue the firms by September, “he is committing legal malpractice.” She is accusing him of failing to act despite the “clear evidence.” <\/p>\n

Radnofsky has noted that the financial meltdown has forced Texas to make cuts to social programs, environmental enforcement, and child protective services. She says the “Great Recession” has lead to child illness, hunger, death, and abuse. She also contends that foreclosures and abandoned homes have severely affected neighborhoods. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Barbara Ann Radnofsky, the Democratic candidate for Texas attorney general, says that the state should sue Wall Street firms for securities fraud. Earlier this week, she published a legal brief accusing investment banks of being responsible for the financial crisis. 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