Skilled Counsel in Municipal Bond Fraud
Many municipalities and municipal related entities, such as county hospitals, rely on bond issuances to raise capital for their continued operations. Whether it’s a General Obligation Bond or Revenue Bond, the underwriting process is essentially the same. As a municipality or related entity, you rely on the Municipal Advisory Firms and Underwriting Firms to properly guide you on any bond issuance. Often times these very same Advisors and Underwriters are so keen on collecting their fees that they will, knowingly or unknowingly, lead these municipalities astray. The results of which may be debt coverage misrepresentations (as what happened with the municipalities in Puerto Rico) or improper structuring of the bond issuance itself (as what happened with Auction Rate Securities and undue Maximum Auction Rates). A municipal bond attorney can help with working through litigation that involved municipal securities issued by state and local governments.