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Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Monday, December 17, 2007

SEC Seeks Testimony Regarding Municipal Bond Offerings in Alabama

The  SEC announced today that it filed an action in federal court  seeking  an  order  requiring testimony in an SEC investigation from  Larry  P. Langford, the current Mayor of Birmingham, Alabama and former  Jefferson  County Commission President, and William B. Blount, the  chairman  of  Blount  Parrish  &  Co, an SEC-registered municipal securities dealer and broker-dealer.  Both Langford and Blount previously declined  to  testify  or articulate  a  recognized  legal privilege that would excuse them from answering the staff's questions. The SEC is investigating whether there were violations of the antifraud provisions of the federal securities laws in connection with the  offer,  purchase  or sale of Jefferson County (Alabama) municipal bonds  or  security-based  swap  agreements. 

http://lawprofessors.typepad.com/securities/2007/12/sec-seeks-testi.html

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