In re Nuveen Funds/City of Alameda

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May 16, 2011

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securities litigation
In re Nuveen Funds/City of Alameda
2011 WL 1842819 (N.D. Cal.)
US
Federal Court
California
United States District Court
David Sosa (plaintiffs)
Illston

Summary

Court dismisses securities fraud complaint regarding municipal bonds due to lack of expert loss causation evidence; i.e., comparing value of underlying collateral on purchase date to subsequent liquidation sale value.
In re Nuveen Funds/City of Alameda
PDF, Size: 144 KB

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Loss Causation Requires Valuation of Thinly Traded Bond on Purchase Date

Legal and Court Case Update
September 2011

Court dismisses securities fraud complaint regarding municipal bonds due to lack of expert loss causation evidence, i.e., comparing value of underlying collateral on purchase date to subsequent liquidation sale value.