Court reverses FSA ruling
It’s the latest chapter in whether insurers can sue participants in a municipal bond transactions for securities fraud.
An Atlanta federal appeals court yesterday reversed a ruling, thereby affirming the dismissal of securities fraud charges against underwriter Stephens Inc.
The court turned down an appeal by Financial Security Assurance Inc., a New York-based insurer, against Stephens.
In 2000, FSA filed suit aga
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